Just changing the folder name will make no difference. You need to change the name of the album in the properties of the file. If you go to the album view in MP and change the properties for that album or select all the songs from that album>right click and select Advanced Tag Editor then change the details of each song then that should work.
Once you have done what you want I would recommend selecting all files in MP and deleting from your library (not library and computer!!!) then doing the monitor folder again just to refresh all the files.