Yes, the new name loses the "Mountain" title/category, but there are no mountains in New Orleans so it would be tough to come up with a meaningful name that included "Mountain".
Having "Bayou" in the name and keeping that theme makes the overlay (cough.. re-imagining) simple. Much of the ride can remain themed the same, just remove the Br'er names and maybe a couple of other critter names. It can still be a boat ride complete with an ending on the Mighty Mississippi with the Riverboat and all.
But, I am really struggling with how they will incorporate the large drop into a bayou theme. Are there any rivers/streams that flow into the Mississippi near New Orleans and that have a drop down into the river? Plus, they will have to re-theme the exterior to not be the briar patch. That exterior with the drop has to be able to tell the story, IMHO.