You don't have to edit the database, names are done in the lang file although you'd have to re-import it from the admin cp again. I believe the lang
file is imported to the database in binary format, so it goes without saying you definitely should not try to modify these rows directly.
Our site's owner wanted to change the name to DM (God only knows why, I like "U2U" as its very XMB-ish) so I ended up editing various PHP files to
replace the $lang_xyz variables with hard coded strings. I also remember changing multi-dimensional array values in I believe u2u.inc.php.
Still interested in this? I'll gladly share our PHP files with you.