AFAIK No. The Current Selections object doesn't offer many adjustable properties, though your request and many others (like changing Field names in a multi-language environment) would mean substantial improvements to this popular object.
However: the function GetFieldSelections() offers a solution to the wrapping behavior. You can specify the maximum number of discrete values as a parameter. Using a text object and the GetFieldSelections function you can build your own Current Selections-object.
See also discussion here Current Selections Display Issue.