For a regular configuration you rmb/properties/ and rename it in the custom properties window that pops up. If you do the same for a derived configuration, the config name is greyed out...which means you can't highlight it to rename it.
You can re-name configurations, features, etc. by single-clicking on them twice, or single-click on them to highlight and press the F2 key.
Much easier than the way I was trying to do it. And it works on derived configs too!
It works on a lot of things in SW. Drawing views, features, folders, sketches, planes, etc.
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