This is one of the all-too-many tools in BibleWorks that I haven't explored yet. As I understand your problem, you want to be able to view the full morphology code strings in one or both of the columns. I agree that that doesn't seem to be possible.
In playing around with this, I found a couple of issues. (1) For me, the right column in the Words tab is completely blank when I do a morphology-version search (WTM, BGM, etc.). Only when I right-click in the blank column, select Context/Word Tab Options, and then select any option in the dialog box and click OK does the right column populate. (2) By default, Hide Morphology Codes seems to be selected. But in the left column, those codes are not hidden even when this box is checked. If it is checked, then the entries in the right column are completely visible, but of course they don't have the codes. (3) If I uncheck Hide Morphology codes and leave Popup Morphology Code Expansions checked, then when I hover the mouse over any entry in either column a popup window appears that shows the complete morphology (in words, not codes). That at least lets me see what things are, even if the codes aren't completely displayed due to the column widths.
I apologize for kind of hijacking your thread, Tim. There seem to be several issues with this tool (and the Help system doesn't quite seem to match the way the current version works), but would using the popup morphology expansions help you somewhat?