Not sure about other versions but, at least in CDX6, you should be able to open Window/Color Palette Manager, select your custom palette in the manager's list, then click the "opens palette editor" button (next to last icon directly under "ger" of "Color Palette Manager" on my screen). Now click on your "Blue Engrave" color, change the content of the name box to "Blue Cut 100%", click the save icon, and click OK.