Currently the history is stored as strings. So for example, if you change the version field from X to Y, then X and Y are stored as strings. Renaming version X or Y will not reflect in the history.

Also if we format a history event in a specific way today, then we change the formatting in the next version, then the old entries will still have the same formatting.

In my opinion, history entries should be stored as logical entries that include the information about the change using change type, codes, ..etc. Then it is the task of the latest code to resolve the code to names, and to display it accordingly to the latest format.