I like the way that when we now add a gem to a weapon it's name changes, for example from "+10 Rapier" to "Frosty Rapier +10" ...indicating the damage type.
Also the way that the name of this weapon updates when you increase the enhancement value.

However, the weapons that I upgraded before this are all still called by the base (found) item name (eg. +10 Rapier) regardless of the current enhancement and gems added.

As I now don't use the quick-bar to change weapons (which is another story -- which I won't bore you with here. Most of you won't need to worry about this, heh) I need to manually inspect each of my older crafted weapons to find the one that does the damage type that I'm looking for during a fight.

Would it be possible to add -- maybe on an NPC/anvil chat or something -- a way to update older crafted weapons to give them names descriptive of their current stats?

Sorry, but I don't plan on programming something like that. I'd create some new ones and sell your old ones. Unless you defeated the Vile King (or at least the Mistress of Darkness) before you created them, you don't have the strongest versions possible.