No, as far as I know this is read from the hardware, so only if there's a way to edit the hardware (via firmware) this might be possible. However, I believe you cannot access those TI chips, they're most likely read-only.
The only way to avoid confusion is to test things out. I've dealt with the same thing (two "USB Audio Codec"s) for a while - until I upgraded to a slightly more 'serious' audio interface, which has it's proper name (brand&type) as identifier. It would be handy if OS X would somehow interfere and add a simple "2" to the second devices' name...
Come to think of it, you could create two aggregate devices each containing only one USB audio codec, and naming those devices Peavey and Valveking respectively.
http://support.apple.com/kb/HT3956