we cannot do that in usual way....
Now you will learn how to change it in simple steps:
1. Start-----> Run and type 'Regedit' ( Opens registry editor)
2. Now Press 'Ctrl'+'F' to open find box and type 'Recycle Bin' to search.
3. Change any value data with 'Recycle Bin' to whatever name you want to give it like "Dust Bin" or "Trash" etc.
4. Press F3 to continue searching for 'Recycle Bin' and change wherever you come across 'Recycle Bin' to new its new name.
5. Repeat step 4 until you have finished with searching and changed all values to its new name.
6. Close regedit and hit F5 on desktop to see the new name on screen.
Important Note: Always backup your registry before changing anything .....anyway changing 'Recycle Bin' name is doesn't leads to problems.