Changing Title label does not work.

This may be 'by design' so I am asking as a support request first.
I'm editing the Event content type. I've added various additional fields. I wanted to change the label of Title to something like Name of Event. I can change what is there now "Title" and save what I've been doing, but when I go to Submit a new Event, it still uses the label of 'Title'.

Can this label actually be changed?