Not sure if this will work (it works for an external hard drive).... When your DVD drive mounts on your desktop, click on the name. A red oval background should appear around the name. Now click at the end of the name or anywhere on the name until that red oval background turns to a square colored light red. Type in your new name for the device and press enter.
If it took, the new name will appear and stay that way each time you mount the drive. But like I said above, this works for hard drives since they can be written to, however, a DVD drive can not be written to other than by a firmware update. Give it a try and see what happens.
Regards.