Can we edit the name of the module once it is created?
eg module name entered is - REV01 Price book module
edit version of module - REV01 Price Book
If yes, then how to go about it?
Yes, you should be able to edit the name of the Module. Go to Modules and double click on the Module name you would like to edit. It will then highlight the name and you should be able to edit it.
Be careful when changing a module name and ensure the new name is unique. If another module exists in the model with the same name, your model will lock-up, display the blue "toaster box", then produce an error message. This is typically only an issue on larger models that will remain in an error status for long periods of time locking you out of doing any work.