Some of you guys are missing the point. Its not simply 'changing the names' of teams in edit mode. From what I've read the patch makers suggest a data transfer kit so that you can put the patch into your system or that they send a memory card to you with the option file, which you would then load from.
I have no idea whether this is against the rules, it sounds too risky for me to try it out. I too would like to know a definitive answer though as I always am amazed at the screenshots from those fan made patches...
gamertag: ALEX AMSTERDAM
GTA IV: 1500/1500
Red Dead: 1500/1500