I agree with the name comments.
I really think it is a weak point - it's not really a name as someone pointed out, it sounds more like a description of something than the name of it.
Could either be done subtly with something like
Media Center myMedia or whatever then just slowly start moving the emphasis onto the new word slowly so as to make it more unique or it could be done the exact opposite and totally rename it and use it as a chance to do a huge marketting push to revamp the product and get it a lot of attention as a 'new' product.
Windows did it when they went from: Windows 95, Windows 98, Windows 2000 then realised the names were getting boring and not standing out enough so went for "Windows Xperience".
Giving it a new name could be a way of saying "this isn't just another version, or a slight progression from an old version, we consider this point the product is at to be a major milestone".
Not "JRiver Media Center 11.1.1468132432432"
but: JRiver "mediaRiver"
or: "JRiver Evolution"
Do a naming contest - open a thread for name ideas, leave it going for a month. Then do a poll with all the names, whoever came up with the winning name gets a free license and a lifetime's worth of free upgrades.
Just an idea but I definitely agree with the author of this thread.