You can rename a template directory using FTP, however it should not be your currently selected template. If it is, temporarily select a different template.
Step to rename a directory.
1. Select a template other than the one you want to rename from the "Website Design" page in the control panel.
2. Rename (or copy and rename) your template.
3. Reload the "Website Design" page in the control panel.
4. Select your renamed template.

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