Yes.
Best thing to do is clone the item you want to rename (in case you make a error) and rename the cloned item. Right click on the asset in the main CMP window select clone. Once this is done, go to the cloned asset, right click and select edit in Content Creator Plus. Add the desired description in the 'username' section then save.
Click on the cloned asset in CMP again and press Ctrl+M. That should change the description.
Cheers.
