|Please look at this free program. It may not meet your demand of renaming a shortcut but it does much more than that and it creates the shortcut with an icon of your choice and may be very helpful to you. Renaming a shortcut is much easier, anyway.|
By the way, I have not used the program myself. Therefore, I do not know if it does what it promises.
EDIT: I tested the program. It works perfectly. It took me about half an hour to figure out how to configure the arguments. You must use double quotes for paths of programs and arguments if they contain blank spaces. Otherwise, use none. The icon file such as Shell32.dll must be copied in current user's Documents directory.