Wow! Can't believe I missed that in the context menu. Thank you for pointing that out. Yes, renaming the global colour name changes the name in the swatches panel as expected. Sorry for the unnecessary post.
I cannot change the name of any swatches in any document. This worked for awhile, but now the names are stuck. If I click "rename" I will see the name I actually set come up in the rename dialog, but the name in the list will not change. I've tried everything except reinstalling. I can only think this is a bug. Steps: Create document palette Create global color Set as "spot color" Try to rename the color