When you right click the network icon, you will notice that there isn't a "rename" option available. To rename this icon, you will need to access the Windows Registry. Be sure to make a backup copy before making any changes to the registry.

1. Go to Start
2. In the Search field, type in: regedit.exe
3. Press Enter
4. Navigate to the following registry key:
   
   HKEY_CURRENT_USER\Software\Classes\Local Settings\Software\Microsoft\Windows\Shell\MuiCache
    
5. Left click the MuiCache entry to empty its contents in to the right pane
6. In the right pane, locate an entry titled:
   
   @C:\Windows\system32\NetworkExplorer.dll,-1
    
7. Double click the above titled entry
8. In the "Value data" text field enter the name you would like to use
9. Exit the Registry Editor