That's how you have to change your name now. Unless you go back using an older version of MSN for Mac or another alternative such as Adium.
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This sucks. Oh well :(
+rep to anyone involved.
http://davzy.com/screenshots/Screen_...010-140118.png
Try downloading the latest version, then double clicking your name.
I'm guessing it's because of what Microsoft wanted to change. They have done it in the newer versions of Windows Live Messenger, 2011 for example on the Windows platform. I'm not sure what they are trying to achieve by this but it's one of the features that should of never been changed or removed.
Such a good feature..Cant really be bothered with people having such long names..