Tried the Admin Tools route, tried right-click "Rename" over the drive icon and also tried this method, which as far as I can tell, does not really rename the drive but the usb port where it is installed. If you swtich an USB from F to G, the drives name will not show, only the one you created in the registry for the F and G drive entries, meaning that whichever drive you stick in to F will have THAT name, but not the drive's name. I've already removed those entries and since restarted my machine.
What could be a logical reason for drive names not showing in my system's explorer? They show in the Administrative Tools window and if I plug my USB drives in other machines, I can see the drive name I changed, but not on mine.

Any ideas? Thank you.