My mistake, it is 1.2.7 and the upgrade in on my list :-)

I found the file in:
/includes/modules/pages/product_info/main_template_vars_attributes.php

I then found this following code but am at a complete loss as to how to change it to display only if text exists. I think that's a bit beyond my skills. Any suggestions or references to figure it out?

// Read Only - just for display purposes

if ($products_options_names->fields['products_options_type'] == PRODUCTS_OPTIONS_TYPE_READONLY) {

// $tmp_html .= '<input type="hidden" name ="id[' . $products_options_names->fields['products_options_id'] . ']"' . '" value="' . stripslashes($products_options->fields['products_options_values_name']) . ' SELECTED' . '" /> ' . $products_options->fields['products_options_values_name'];

$tmp_html .= $products_options_details . '<br />';

} else {

$zv_display_select_option ++;

}