One more question, in the Tree shortcut menu there is an option to "Rename" the categories, I guess in your case you will just filter out the BO for this category and rename them all in a one pass, right? or is there another more efficient trick?
Actually I created a sproc to update all of the categories at once then I reload the BO. That way there are fewer changes and queries going back and forth. I did it as you had mentioned originally, but it was so slow the larger the project became that I did it in a single query, requeried, then set the index back on the changed item.