No. It is not possible. Perhaps the only thing that can't be changed.
I have to second Michael on this, the Vault name can't be changed.
While you could change the name in all the places in the database, and on the archive servers, changing all the clients and being sure would be impossible. I'm not sure it would be worth the risk, its just a name.
Thats what I was afraid of. Warning to other users...don't pick a generic name for your vault such as <your company name>. You won't be able to set up a local view in any directory that already has a folder of the same name.