While the application's author, Mario Romero, hasn't said anything about the change, it's possible that he made the change to avoid confusing people into thinking the application was produced, or endorsed, by Google. Another possible reason for the change? It now appears that Mario has added the option to include shared items from NewsGator, in addition to Google Reader.
Previously labeled as a "Google Reader" application, the application changed names sometime in the afternoon on Sunday, October 14th, to "Feedheads". You can see the change transparently occur on the right in a screenshot from my Facebook mini-feed.
The application, one of the few useful applications on Facebook, as has been well documented, says it has 348 daily users (myself included). Should Robert Scoble's hopes ever come true, and enough people use the program, its aggregate power could be very strong, in effect becoming a democratized Digg of sorts, where you could opt in to view your own friends' shared items, rather than that of the mob.
A Tag Cloud of My Shared Items in Feedheads
If you're on Facebook, and you're an avid Google Reader Shared Links user, sign up for Feedheads. To see my shared links in Google Reader without getting into Facebok, click here. To view my Facebook profile instead, click here.