Until someone who "actually knows" what to do about your issue..lol..these are my thoughts of things to try in the mean time

Does it require elevation of your user privilege to administrator by running fences in admin mode

Is there a setting in fences that prevents renaming unless you allow it

file your attempting to rename resides on a hdd or partition that stops any user without admin privilege from doing anything on it

Is it because fences has it loaded (as a bad example: when attempting to delete a file explorer has open & the dam thing throws up can't delete because a process has it open bs,now that's annoying )

Exit fences,i would then use the task manager to make sure it was off (would pay to use "show all users") just to make sure it doesn't have a background process running.Then to restart with elevated privileges right click on the fences icon but this time select "run as administrator".Once task is complete exit fences & restart it normally as you should only run as admin when necessary

edit: if there is an option to deny renaming it will be in its settings,you'll need to have a look.i don't use fences which is why i mentioned in my first post "until someone who actually knows".However certain locations on C are locked & require admin option for 3 rd party software to do anything,especially modifying

Gotta be a bug.  I can right-click and NEW->FOLDER, which it does, naming it "New Folder".  It leaves the "New Folder" highlighted, but does not allow the user to change the name.  Only solution is to go back to standard windows interface and rename it there.  Clunky!