I think there is an easier way to change the name from the registry. I've done it but can't find the instructions. Someone here should have it.
As for the icon right click desktop\properties\desktop\customise desktop.
there's been several threads in the past about this... want proof? Proof Always search before you post
Originally posted by Dirk Diggler
To rename the Recycle Bin open up the Registry and drill down to:-
HKEY_CURRENT_USER / Software / Microsoft / Windows / ShellNoRoam / MUICache and double-click the Name that corresponds to Recycle Bin. Then change the ValueData to whatever you like, and click OK.
change the Default (it's probably blank), to whatever you want ie. Crap Trap. These are two possible addresses to change the name of the Recycle Bin.
OR TRY THIS
Windows Registry Editor Version 5.00