I'm positive the name is purely aesthetic and has more to do with a unique character identifier associated with your account thus having no bearings on your friendslist/linkshell holding/ black list. Therefore those who have scorned you and made it to your blist would still be on your blist. Those with pristine reputation that made it to your friends list would still be on your list. Kitty Nekostrife, now Dark Shadowstrife will still be in your linkshell.