Change menu link title dynamically?
Be sure too understand how the menu system works. The menu structure is only build once every time the cache is cleared. It is at that moment that hook_menu_alter() will be called. The results are then stored in the database. So simply implementing this hook is not sufficient to create dynamic menu titles. You can use it though to add a title callback that will be called every time a link to the menu item will be rendered. For details have a look at http://drupal.org/node/140311 (D6, but basic logic still applies to D7).

From the top of my head:

function mymodule_menu_alter(&amp;$items) {
    $items['toggle-review-process']['title callback'] = 'mymodule_title_callback';
    $items['toggle-review-process']['title arguments'] = array(1, 'some string');
}

function mymodule_title_callback($arg1, $arg2) {
    $title = 'create the title';
    return $title;
}