Run regedit;
HKLM/SOFTWARE/Microsoft/Windows/CurrentVersion/Explorer/
Create a key called DriveIcons
Within the new DriveIcons key, create another key with the
drive letter you want to change (..\DriveIcons\K)
Create another within the drive letter key called DefaultLabel
Enter the *Default Value* for this key as the label you want to
appear for that drive
Reboot
This hack does not always work.