Yes, you can change the names and descriptions, through either editing the lines in the dialog.tlk file or adding new lines to the dialog.tlk (which would then involve changing the references in the skills.2da. The numbers in the "name" and "description" columns refer to entries in the dialog.tlk file.
In Scripting terms, that would link them all to the same skill. That wouldn't help in terms of the already-compiled scripts in the levels, but it would work for any scripts going forward.
The "label" column is purely for the convenience of the person messing with the file. It's the "(Row Label)" column that's important, as that's actually the index to the row itself. Granted, it can't hurt to cover your bases and both move the row and change the "(Row Label)" column's value.
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