Please, somebody correct me if I'm wrong...
** UPDATED **
Yep I'm an idiot. Somehow I installed Professional edition not Ultimate. And professional does not support schema compare or refactoring. Duh!
The Visual Studio 2010 trial claims to be functionally unlimited - just time-limited (90 days). BUT - from what I can tell, object name refactoring (renaming) is unavailable.
According to MSDN it can be done by "right-click the object in Schema view, point to Refactor, and then click Rename'.... or from the Data menu, point to Refactor etc...However, there is no Refactor option in either location.
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MSDN does state that if there are build errors, the menu option is not available. I double-check that, and build successfully it did.