Much better, and I'm sure the plugin author would appreciate any constructive criticism which is conducive to bettering the plugin as well.
However, I do agree with you that it is potentially somewhat misleading. I haven't downloaded the plugin, and haven't seen anywhere on the WordPress plugin site so far where it mentions having only limited functionality, and that there's a pay version with full functionality.
Unless I missed something, this seems rather shady, though it's possible I just overlooked part of their website.
WP Auctions is a revolutionary plugin for WordPress which allows you to host auctions on your blog and to sell ANYTHING, completely fee-free!
should mention that this is only for the pay version, downloadable from their website.