Both my wife and I run 10.7.5 on MacBook Pros. On my wife's machine (2012 MB Pro) she cannot rename a bookmark folder she creates in Google Chrome. All her new bookmark folders are called new folder. This has been happening for awhile. I run 10.7.5 on a 2008 MB Pro and don't have this problem. I suppose deleting Chrome and re-installing is the best solution?
1) Go to Chrome's Bookmark Manager, "Organize" menu, and export her bookmarks as an HTML file (save this file for later).
2) Exit Chrome completely
3) Click on your Desktop, then from the Finder menu click "Go" > "Go To Folder".
5) Rename the file called "Bookmarks" to "Bookmarks.OLD" and "Bookmarks.bak" to "Bookmarks.bak.OLD"
6) Launch Chrome
7) Go to Chrome's Bookmark Manager, "Organize" menu, and import the bookmarks_x_x_x.html file that you saved earlier.
8) Exit Chrome completely again. Wait a few seconds, then launch it again.
9) Now try to use Chrome's Bookmark manager to create a new folder and rename it.
Hopefully the problem will be solved.
I would highly advice against re-installing chrome.
What I've found is that this feature is hidden and not very intuitive, but it's there. All you have to do, believe it or not, is:
For the official instructions.
That's it. You can't hit F2 when a folder is selected, which is a mystery to me. Renaming can also be done in a more painful manner through the bookmarks bar:
These are the only two ways about it to my knowledge.