From the user's perspective, it's not clear where to set/change the name of the component.

It can be only changed on Review your new components page - and even here it is not clear. The pencil near the Target port changes the line below, so it feels like the pencil next to the project name will change the repo (which is not true). 

Proposed solution:

The user can set the name on the same page where he/she specifies the repo.

Alternative solution:

The way of changing the generated name will be more clear on the Review your new components page.