I run iTunes on the Mac MBP (Snow Leopard). I have a folder of apps called New Folder. I click on it to open it, rename it, then close it. It shows the new name. But then after sync it changes back to New Folder.
I do wonder if it is some name conflict. The new name was sushi, and there are sushi apps. But what is weird is it does show up with the new name until I press sync.
EDIT 2/20/11: It isn't a name conflict; I have seen this at other times. Also it shows all the apps in alphabetical order, it appears.