Good point. Using the Japan example, anyone who deals with Japan probably knows that it is called 'Japan' by most of the outside world, but 'Nippon' by it's inhabitants. It would be easy enough to show both the name the race calls it and then the names that the other races use in a
sort of format. The 'OtherRaceName' segments would probably only be shown when showing a Planet Information screen to cut down on text on the starmap, and could be colored (assuming that each race will have a identifying color) the color of the race that uses it.
Actually that could be really interesting in that each RACE could have a name list.
I'd generally say not a good idea so as to allow a large number of AI players, but if memory/processing time wasn't a problem, then at the start of the game every species names all the stars on the map (you get to know their names when you know them) the default names for all the stars (which you can see at the beginning of the game) are the ones from the list for your species.
Actually that would be a good thing, having the default name of all stars visible... the "Actual name" could then be displayed when you contacted them (to allow for Orion and Homeworlds, as well a human players to not be given away)
The Actual name could then be changed on on initial colonization (this way only two names are given for a star ever)... as opposed to the more open idea of each player calls a star whatever they want.