XYplorer Beta Club

Is there a way to show two folder levels in the Tab Captions?

i.e. If the path is C:\A\B\C, Tab caption = B\C

I'd imagine there is some way to parse the <path> variable but I'm not sure how to best implement.

No.

Config - Tabs and Panes - Tabs - Custom...

Allows only <drive> and <folder> but nothing like <parent>