I have this on my todo list. However it is not as simple as one might thing at first since MC have multiple panels with multiple tabs and some tabs is not even file explorer panels.
But you can set a own tab in the title bar that is shown first.. either using parameters for MultiCommander.exe or using the command line field ":title <text>" command
I wouldn't overthink this. There is little space available in the taskbar anywhay, and no need to re-invent the wheel. So I would suggest to only display the path of the active pane. And even this will be too long under most circumstances, so you could display the partial path (either by including the last and/or first folder element).
The Windows Explorer simply removes the path at the end, so everything else is not essential (or "nice to have").
A little more space is available with the Tooltip, this should be able to display the whole nerd stuff