No idea on the ring tones, but for your second question -
You can customize what is displayed for each speed dial button. For ours, we have 2 multicall lines setup - 1 displays the internal extension and the other displays the external extension. As you can put whatever you want there, you could use a name if desired. Of course, this only applies to the first home page, so if they're on a a different home page, you'll have to move over to the home page where their line keys are.