You should be able be able to rename any network drive in windows my simply using the rename function.
(Open my computer, select the drive you want to rename, hit F2, type in your new name)
If you are wanting to change the drive letter, then you need to disconnect and remap the drive.
(Open my computer select Tools from the menu, then Disconnect Network Drive, select the drive to disconnect. From the same menu now select Tools, Map Network Drive, choose your drive letter and UNC path.)