Changing an app's name on your home screen is not something you can do on stock Android or TouchWiz, but it should be. If you think of it merely from a customization angle, sure, it's not a big deal, but having the ability to alter an app shortcut's name can do wonders for cleanliness and being able to distinguish from similar icons.
When you have an app with a really long name, like "Don't Tap The White Tile", it'll get truncated, as in "Don't Tap The White". On other devices, you could see ellipses, like "Don't Tap The White..." or even just "Don't Tap The..". And putting things into... more