The Reference Name is an internal way for you to differentiate between different processors you may have in the database. This is not public to your donors; it is for internal tracking in eTapestry only. We recommend leaving the Reference Name as is in most cases.
However, there is a process that you can follow if you wish to have a different reference name for this processors. In short, this would involve creating a new processor with the same information and the desired Reference Name. You would need to change all active auto processing and online forms to use this "new" processor instead. For complete instructions on how to do this, please contact support and reference this article.