This command will only be available, if the 1-Window-Editor view of the Watch- and Recipe Manager is opened (target-dependent!)⮫ “Tabular editor”.
It opens a dialog for specifying the new watch list name.
If the tabular view is used, the watch list can be renamed in the Object Organizer via command 'Project' 'Object' 'Rename'⮫ “'Project' 'Object' 'Rename'”.