ULTokens.txt constructs links that look like this:
<a href="[=URL]">[=TEXT]</a>
If you switch the menu to use the DumpXML template, you will see the XML file that is uses as input to the ULTokens.txt, so you should be able to trace the inputs and the final output of the menu links. The XML file contains "nodes" that look like this:
<node id="172" text="Home" title="My Home Page" url="http://jncraig.com/test/Home/tabid/172/Default.aspx" enabled="1" selected="0" breadcrumb="0" separator="0" first="1" last="0" only="0" depth="0" />
"text" corresponds to "Page Name" in the Page Settings.
"title" corresponds to "Page Title".