I see a counter beside the Name slot for Armor, it implies that it has a limit of 24 characters, but is there actually any limitation?

Don't quote me on this, but I think that's the maximum number of characters that the UI will safely display. The name can be longer but won't display properly.

Yeah well that's what I thought too, but then I saw the enchanted variant of armors and a Dwarven Helmet of Major Alteration goes up to 34 characters!

It SEEMS to display correctly, considering that it's vanilla armor name, but I want to make sure what that 24 counter is for.