That's pretty much the only way you can do it (the reason eBay decided the URL won't change after a name change in the new format is because old bookmarks etc won't work).
I haven't heard of too many problems with switching back and forth to change something (I've had to do it myself with the shop logo and didn't experience anything odd), so it should be safe enough (not guaranteed 
... ) Also, since the name has already changed, I don't know whether switching back will automatically change / update the URL or if you'd have to alter it again while in the old format.
