Hi smhoon,
I see that the 'formatted phone' setting is sticking to the phone number on the Vendor List report, cutting off the 11th and subsequent digits of the phone number. I have forwarded this to development.
If this is an immediate requirement and you have a copy of Crystal Reports for Adagio, you can modify the report and make the change(s) you need. This is good for things such as resizing fields, changing fonts, rearrange columns, or other changes.
With this particular report APVSTATS.RPT, you can also change the phone number field into a formula and apply the formatting you require. I would recommend using the 'unformatted' phone number if you want to apply your own brackets and dashes to the text string. Or you can simply insert the Unformatted Phone number field to get all the characters.