This gist is for showing an example of a custom wordpress menu.
If you want to get more from the menu item simply have a look at the $item object. i.e:
// Will return a large object with lots of props like title, url, description, id etc.
var_dump( $item );
This code works on Wordpress 4.1.1 as of 31st of March 2015

@hitautodestruct I had the same issue that @theodorocaliari. I can't print more than one submenu list and I need to nest every
<ul class="submenu">inside a parent<li>, depending on how much submenu i have.How can i evaluate the
php( $parent_id == $item->menu_item_parent )when the$itemit has more than one parent element?