There does not appear to be any way to change it. Set your Station Name to reflect your location. If you log into WU, then go to "My Profile",then "My Devices" you can click on EDIT on your device to edit the Station Name, Elevation, Hardware etc. The location is set by the Lat/Long, and the ID is auto-generated when you add the device, but the NAME can be anything you like.
Yeah. Just replaced my old weather station and WU assigned my station to a different neighborhood - just not the one i live in. Both neighborhoods have similar names but they are not in the same area. Not happy and WU doesn't seem like they care. They never respond to my emails.