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When you hover over a calculated metric, it should show the formula behind it. In order to see the formula now it takes quite a few steps to go into the calculated metrics manager.
Great idea. We'll take a deeper look at it.
With the latest release of Reports and Analytics you can now get a metrics preview (by click on the info icon when you hover over a metric) it will show you the name, description, formula and an overtime report for the metric.