Post Type Label Name

The function register_post_type() takes an argument 'labels'. This is an array, one of the possible keys is named … tada! … 'menu_name'.

Sample code

register_post_type(
    'academias'
,   array (
        'can_export'          => TRUE
    ,   'exclude_from_search' => FALSE
    ,   'has_archive'         => TRUE
    ,   'hierarchical'        => TRUE
    ,   'label'               => 'Academias'
    ,   'labels'              => array ( 'menu_name' => 'See All Academias' )
    ,   'menu_position'       => 5
    ,   'public'              => TRUE
    ,   'publicly_queryable'  => TRUE
    ,   'query_var'           => 'academias'
    ,   'rewrite'             => array ( 'slug' => 'academias' )
    ,   'show_ui'             => TRUE
    ,   'show_in_menu'        => TRUE
    ,   'show_in_nav_menus'   => TRUE
    ,   'supports'            => array ( 'editor', 'title' )
    )
);

Update

Now, that I’ve understood your question better, there seems to be only one way to accomplish what you want: hook into attribute_escape.

Test Plugin

<?php
/*
Plugin Name: *WPSE13210
*/
! defined( 'ABSPATH' ) and exit;

add_action( 'init', 'register_academia' );

/**
 * Registers te post type academias
 *
 * @return void
 */
function register_academia()
{
    register_post_type(
        'academias'
    ,   array (
            'can_export'          => TRUE
        ,   'exclude_from_search' => FALSE
        ,   'has_archive'         => TRUE
        ,   'hierarchical'        => TRUE
        ,   'label'               => 'Academias'
        ,   'labels'              => array (
                'menu_name' => 'See All Academias'
            ,   'name' => 'Academias'
            )
        ,   'menu_position'       => 5
        ,   'public'              => TRUE
        ,   'publicly_queryable'  => TRUE
        ,   'query_var'           => 'academias'
        ,   'rewrite'             => array ( 'slug' => 'academias' )
        ,   'show_ui'             => TRUE
        ,   'show_in_menu'        => TRUE
        ,   'show_in_nav_menus'   => TRUE
        ,   'supports'            => array ( 'editor', 'title' )
        )
    );
}

add_filter( 'attribute_escape', 'rename_second_menu_name', 10, 2 );

/**
 * Renames the first occurence of 'See All Academias' to 'Academias'
 * and deactivates itself then.
 * @param $safe_text
 * @param $text
 */
function rename_second_menu_name( $safe_text, $text )
{
    if ( 'See All Academias' !== $text )
    {
        return $safe_text;
    }

    // We are on the main menu item now. The filter is not needed anymore.
    remove_filter( 'attribute_escape', 'rename_second_menu_name' );

    return 'Academias';

}

 
Not very elegant, but at least a solution …

Update 12.05.2010

In ticket 17378 a new parameter all_items was proposed. That should work much better, once it’s part of the core …