On Feedly's edit page (http://www.feedly.com/home#contents/edit), if the category name is long enough to extend over the pencil icon ('rename category'), you can not rename the category.
You can go to Google Reader to shorten the name (until July 1 when it disappears) or you can create a new category, drag the feeds into it, and the old category will disappear.
Love Feedly, but that's a lot of work! Feedly, please fix.
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