The changing of the Livespace room name in the global.properties file is a non-trivial matter as the name is referenced by various services and configuration files. The use of the room name in these instances was typically done to allow Livespace entity id's to be both human readable and unique across Livespaces. When changing the room name you need to synchronise these configuration and persisted files with the new name.
Livespace state is created and persisted between restarts by Livespace's config files and dbxm persistence files stored in in the datastore area. To change to the room name:
Shutdown the Livespace Server and all Livespace Clients
Take a backup of the datastore and config directories
Perform a global search and replace of the room name over the config properties files and persistence dbxml files.
Files which need to be changed at the time of writing this page are:
meta-apps.dbxml
global.properties