When you register a component with the component registration wizard, there are a few places where you need to define the descriptive label for your component/content reference so it will show up correctly.
The component page item label sets the label for the tabs in your component:
The menu item text sets the label for the search page:
The content reference label sets the label on the portal menu and the content reference long description sets the description underneath. Note this can be set at the component registration phase or later through the portal structure and content setup.