Brian, changing names is common, but do it right. So as not to earn the wrath of Posidon, you must honor him with a renaming cerimony. This could be fun if nothing else. See http://www.latitude38.com/features/dename.htm
for details. This includes previousely owned boats.
As for names, I have always been a little wary of goofy puns, testostirone laden handles, and tired re-treads. I think no name is better luck than a whack one.
Imagine compounding a mishap with a silly name like "Water Hazzard".
I remember putting on a clinic next to a fishless boat called "Striper King".
I guesse I'm no fun, but the sea is a seriouse place and I think that a respectful name is most appropriate.
You can't go wrong with the name of a loved one who waits patiently on land(perhapse in the widow's walk). I have not named my boat partly because I haven't come up with the right name, and partly because an 18', white, rolled edge skiff is hardly romantic. My old lady protests me naming it after her. Patricia Marie does have a nice ring to it. Maybe when I get a Buddy Davis sportfisher or a Concordia yawl.
Really... I'm much more fun to fish with. Eddie