Hmn, I've had a similar experience, but I found I was able to rename the Shortcut by searching for the text in the registry, and then renaming the REG_SZ. The ClassID (long goofy numbers and letters) will likely be different on your machine, but on my XP home the key/value was found here: HKEY_CURRENT_USER\Software\Microsoft\Windows\CurrentVersion\Explorer\CLSID\{871C5380-42A0-1069-A2EA-08002B30309D}, and simply renaming the (Default) Value To My desired text worked.....
crestaldin commented: great ! This post has given me a valuable piece of information that I've been trying to get ...Thanks a lot +2