Locate the key [HKEY_CLASSES_ROOT\CLSID\{20D04FE0-3AEA-1069-A2D8-08002B30309D}

Rename the value named “LocalizedString” to “LocalizedString.old”. Create a new REG_EXPAND_SZ value named “LocalizedString”, and set the value to “%USERNAME% or %COMPUTERNAME%”.

Exit the registry editor, click on your desktop and press F5 (for refresh). The “My Computer” icon should now be rename to “Username on Computername”.

On Windows 2008 you do not have enough permissions to change the key. Take ownership of the key and you can change it.