In snapshot 14w21a, the capability to use CustomName and CustomNameVisible tags was added for all entities.

In 14w27b, the Item entity is being named, as displayed when using /say @e but the name tag is not visible under any circumstance.

Here is the command I am using.

/summon Item ~ ~-1 ~ {CustomName:Enchanting,Age:-32768,PickupDelay:32767,Item:{Count:1,id:enchanting_table,Damage:0}}

This command functions correctly and as expected in versions 14w21a and b.