I've had this problem for a while and it finally got annoying enough for me to troubleshoot and fix it. I'm very glad I found this thread as I was about to reinstall Windows.
As with any registry modification, I was hesitant to simply install varredor's fix without checking it. I compared his fixed version to my existing keys and the only difference was regarding the libraries folders.
The underlying problem that I was having is due to removing all of the default libraries (Music, Pictures, Documents, etc). I never used them and due to my profile configuration of storing "My" folders on a network share, it would constantly show a security
warning message about accessing these locations over a network. I ended up right clicking on each library entry and removing them.
For some reason, there is some part of Windows Explorer that needs to check the library locations during a rename. Since the libraries are no longer there, this is what is causing the "could not find the item" error message.
The registry file that varredor has posted "fixes" this problem by restoring the configuration for all of the default folders, including the library folders. But if you don't want the libraries, you will need to properly remove/disable it and not just by
manually deleting the individual entries. Unfortunately this is not a simple user preference you can just uncheck. It requires a registry modification but just not one as extensive as varredor's .reg file.
This zip file contains 2 registry files. The "Disable" registry file will remove each of the library folders and hides the Libraries folder in the Explorer sidebar. The "Enable" registry file will add the default keys back into the registry.
Zip file: https://onedrive.live.com/redir?resid=E7FD05F97019972%21107
I hope this helps.