The wire name designates the name of a collection of wires all electrically connected. You can edit the name by clicking on it with the left mouse button, and typing in a new name.
Wire names must be unique – if you do not specify a unique name, the application will beep, and it will revert to the old name.
You can hide a wire name by right-clicking on it, and selecting Hide Text from the context menu. To unhide the name, you can right-click on the associated wire and select Hide Wire Label to toggle the display of the name.
Wire names can be moved anywhere adjacent to a wire that it is associated with by using the mouse with normal drag and drop operations.