One of the only things that bugged me about using plexconnect was having it say "Trailers", so I wanted to change that. I didn't see anyone else mention it on here, so if its common knowledge, forgive me :]
You can rename things by editing the Localizable.strings (which is used for internationalization support) for the apple tv (specifically, /private/var/stash/Applications/AppleTV.app/English.lproj/Localizable.strings on 5.3).
Open that file up, then change the values from "Trailers" to "Plex", and thats it
