You used to be able to before the updates. However, with all the DLCs this has changed and is no longer available. Changing the scripts (in this case one file) will not affect the rest of the game and is really easy. I, for example, changed all the names of every nation to their native language and hence also name. So for example, instead of it being called "Prussia", it is called "Preußen". Normally everything is listed in a word/excel file, so there should be no trouble doing it if you really want to change it.