It isn't quite that easy. If you just change the 'desc' field with TextEdit, then close and re-open the profile, you'll see that the description is as it was before. To change it, you need sips, a command line tool that resides in the vaults of the System. The syntax is:
sips -s description intended_profile_name path_to_profile's_current_Finder_name.icc.
If you put sips and the profile in the same folder, your intended name is 'Profile_Name.icc', and the current Finder name of the profile is 'Finder_Name.icc', then the command is:
./sips -s description Profile_Name.icc Finder_Name.icc .
Note the dot-slash before sips.
Good light!