Click on the album folder under the tree structure on the left-hand side of the screen to select the album whose you are about to change
Click on 
button on the left-hand side of the Collection Album screen
over the album tree structure to view the menu
From the menu click on [Rename Album] to open the Rename Album pop-up box.
Modify the existing name and then click on (Save button) to save the changes.
The changed name of the album will be reflected on the screen.