After upgrading to your latest release (I was previously using old release (2011.1.0545))
I have a problem with a display name not being updated since my upgrade.
I have a collection of objects.
The name cell can change as well as the value cell.
I override the DisplayName property by extending ExpandableCollectionConverter.ListPropertyDescriptor.
I also have my own PropertyGridDescriptorDataAccessor. And I have a ShouldNotifyParent return for this collection type.
I don't remember how I got this to work, but now after updating the pgitem.value, the name does not get updated.