I own The Lion King on DVD, which I am using for several tests (ripping to hard disk, later encoding with HandBrake). I ripped the main movie with DVDfab, keeping two audio streams (English and Spanish) and four subtitle streams (English and Spanish, with director comments). This is what IfoEdit shows:

When I open the same ripped movie in VLC, this is what it shows for audio tracks:

So, VLC is wrong about the names for these audio streams: what it shows as "Espanol" is really the English stream, and the unnamed stream is the real Spanish stream. And a minor nitpick: Spanish is written as "Español" in Spanish (notice the Ñ).
The subtitle tracks appear the same in VLC and IfoEdit for this particular movie. However, there are other movies where VLC will show one extra subtitle stream, and it gets confused about which is which. I don't have screenshots handy for this, but could provide them if needed.
Thanks again and best regards.