That’s a bit tricky. BP creates an excerpt and stores it in the db. (unlike WP who creates an excerpt on the fly in some cases). So, you can override the amount of data that is stored when bp creates the excerpt, but this will also effect the excerpt on the main activity page. Google bp_create_excerpt()
If you dont want to change the excerpt length when bp creates it, you can copy /k-element/shortcodes/templates/buddypress/kleo_bp_activity_stream.php to your child theme and do a substr on the excerpt yourself. The problem is that the buddypress functions being used also return divs and paragraph tags (formatting), not just the excerpt.
Bottom line is that Kleo doesnt control any of that. It just stylizes the output of whatever buddypress is returning.
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