I cannot believe this is still an outstanding bug, but here it is...
Load up your template... pick a track to record in... rename that track and then record. Your first recorded clip will have the name of the *previous* name in the track, and not the new name you have selected. All future names will be correct, but not the first name.
Here is what I did though...
Loaded up Live...
Load up previously saved session...
Played my clips...
Decided to record a bass line...
Didn't like the track name of Audio, so changed it to Bass while the song was still playing...
Noticed that the clip name was 1 4-Audio instead of 1 4-Bass...
Recorded a second clip... it was named 2 4-Bass...
Decided to file a bug report...
This is on an AMD Athlon, running windows xp, 1gb memory... Live 5.0.3...