I've done a bit more thinking on this. I see the whole thing from two perspectives.
The first, if these tools are going to be collectively put together under some menu item, then sure, call it 'refactor'. I don't know what else it would be called and 'refactor' sounds as good as anything.
However, I think that refactoring support in VB.NET would be more appropriate from a context point of view. You know, based on where you right mouse in the code (keyword, variable, line, highlighted region), offer a context menu item (or items) that allow you to do whatever refactoring task that may be appropriate. This make more sense to me. If you look at it from this perspective, where exactly would you ever see the word 'refactor'?
The only reason where I could see a menu item called 'refactor' would be if there were more than three refactoring type tasks associated with the specific code you are currently working with.
Paul Vick didn't state specifically what is slated to be in the next release, what it might be called, or how it would be accessed. Rather then focusing on the 'naming' of these tasks, focus more on what tasks you would like to see.