New and renamed shared folders not visible

I'm accessing a shared mailbox in Outlook 2010 and also have the option to cache shared folders enabled.

Sometimes, when I create a new folder or rename an exisiting folder in the shared mailbox, the folder doesn't show up or gets renamed back to the original folder when restarting Outlook.

How can I see these changes directly or make them permanent without disabling Cached Exchange Mode?

This has been a known issue (and a big annoyance for a number of users) for quite a while with Outlook 2010 but luckily this bug has finally been fixed in Hotfix KB2597137 (released: February 28, 2012).

After you create a folder for a shared mailbox in Outlook 2010, the folder is not displayed until Outlook 2010 is restarted.

While it does not specifically mention the fact that renaming existing folders are being renamed back after some time, this Hotfix also solves that issue.

Note:
This issue applies to folders shared via Outlook folder permissions. If you have been granted Full Access permissions to the mailbox on the Exchange server (by your administrator), you will not experience the issue as mentioned above.

Requesting the Hotfix

To obtain the Hotfix, you’ll need to request it via the link at the top of the KB article or use this direct link to the Hotfix request page instead.

The fix should work directly after installing it; no additional configuring or resetting is required to make it work but you may need to restart your computer to complete the update process.

Hotfix Download Available
Hotfix articles have a download request banner at the top.

Note:
Unlike regular updates (which are being offered automatically via Windows Update), Hotfixes are basically pre-releases of updates that haven’t gone through all possible testing yet and are only meant to be installed to solve issues mentioned in the article. If you are not heavily affected by this issue, it is recommended to wait for the next public update or Service Pack which will also contain this fix.
For more info about Hotfixes see; What are Hotfixes?