Hi Deon,
I like the format of:
[app name]_[protocol]_[object type]
like:
www.example.com_http_vs
www.example.com_http_pool
www.example.com_http_monitor
This allows you to quickly identify what app and object type an object is for via the GUI, config files or in a tech.out diagnostic file.
In v11, (nearly) all objects have a description field which you can modify at any point. You still have to modify object names by editing the config file(s) and reloading though. So it's easiest if you come up with a standard and follow it :)
Aaron