Following the installation of Windows 7 RC on the MacBook using Boot Camp, I ended up with the Windows drive on Mac OSX named as "Untitled". If the Windows drive is formatted to NTFS, there is no way to rename the drive in Mac OSX. The only alternative is to boot into Windows and physically name the drive. It is done as follows:
1. Open My Computer in Windows XP or Computer in Windows 7 and right click on the Windows drive C:
2. Go to Properties and enter the volume name under the General tab. In my case I entered Windows 7.
3. Reboot into Mac OSX and there you see the Windows drive as named.