Lists and Cart (and probably other places as well) depend on the massive GetItemsInfo() subroutine to get their location information (branch, shelving location and call number). This subroutine returns the LOC code, rather than the Description for that code configured in Authorised Values. Some codes may be unfriendly to human readers, creating confusion amongst patrons.
Pushed, please test
This bug is mentioned in: Bug 5990: Lists and Cart show LOC code not Location Authorized value http://lists.koha-community.org/pipermail/koha-patches/2011-March/014364.html
This was included in the 3.4.0 release, marking closed