Update 24 Jan 2014: Google has announced that the ability to give Hangouts names in Google Calendar will be available to EDU domains starting January 29th. As we've seen in the past, it may take a few days for all accounts to receive the update.
You will soon be able to customize the name of your Hangouts video call on your M+Google Calendar. This feature is coming soon, though no release date has been scheduled for U-M. When this feature is available you'll click Change Name under the video chat link to create a new name for your Hangout, which will make it easier for you and others to join. Video calls are private and other participants will only be able to join if they are invited or directly added in the Hangouts video call. For more information about named calls, see Google's printable guide for events with video calls.