Apologies if this is an idea already (I thought it was but couldn't find anything) - it would be really nice, for those maps where you don't really need to convert your legend to graphics, if you could quickly rename a legend item from the Legend area in the TOC without renaming the layer.
Sure, you can go find the layer in the map's TOC and rename that layer, but often times I don't want the same name that's on my layer to be the name used in the legend. This can be for a variety of reasons. One example: sometimes you have multiple layers showing similar data for different states and only need one of them to stand in for all of them in the legend. You could rename one of the layers to something generic that works well in the legend, but then you don't know which state it represents when you're working on the map. Or, you may have technical information in the layer name that helps you differentiate it from layers representing a different year or a certain resolution that you don't care to have in the legend but want to keep in your map's TOC for your reference.
A simple slow double click on the legend entry in the TOC should enable editing the text that shows on the legend. The original layer name could appear in parenthesis or italics or something, since it would technically still be connected to that representative layer and that might be helpful info later.
