essa2009: I have the very same problem. Also, no button on the pad brings to the menu/journal/etc, I need to use the keyboard to do that.
Zsrai: Hit start for the menu, then use the L & R triggers to move between the submenus. It's not quite as fast as hitting 'H' for the Henchman screen though.
I tried to do that, but both "start" and "back" just select people or things with which I can interact, making me "bounce" from one target to another (ex: I'm close to two characters, if I hit "start" it puts in evidence one of them to show me I can interact with them, if I push "back" it bounces to the other npc, and so on). The label problems mentioned by the OP is still present, but at least that can be momentarily "fixed" by learning which button does what; of course, a proper fix would be welcome :)
Nonetheless, I have to give props to the GoG team, at least this version functions and lets me play, I never got to work the steam version :)
(Apologies for my not-so-good english, I'm not a native speaker)