The name of local web sites is usually taken from
the name of the folder containing the site (there
are exceptions, such as when two folders have the
same name or a site is added twice)
To edit the name in the list:
Remove the site from the Manage Sites List.
If necessary, Rename the folder containing the
site to the name you wish to use - either close
EW and use Windows Explorer, or open the site in
EW and change the Name in Tools->Site Settings -
General Tab (the site must NOT have any sub-sites
if using EW to change the name)
Add the site back into the Manage Sites List.
rfr was thinking very hard :