Updating the name of a team in Administration | Users | Teams does not result in the team's translated name being changed. This must be done from the Administration | Translations area.
Updating the team name only affects the chan_description field. If a change were to be made to the translated name of the team, it would result in either overwriting all of the the translations of the team names with the new localised team name, or only updating the caption for the current language.
Neither of these is ideal. Instead, the user should update the applicable caption manually for each language.
From 7.3b, a notification is displayed on changing a team name advising users of this requirement.