Can we call you Jeffrey Dahmer? I mean, a name means nothing right? Why does the name Jeff Dahmer hold a significance to it to where we would not want to be called that? It is because that name carries with it the notable events of the past and what Jeff D. did.
In the same way, to call the God of the bible a different name is to associate him with the behavior of those other gods/men. Some of those beings were despicable in their behavior, so in that, it could be considered an insult. God gives us his name, and tells us what to call him. When we call him something other than that, then we run the risk of insulting him. In this case, we should identify his character and make sure what we are titling him as is a positive, not a negative.
If I were to call God "Most honorable one", while it isn't his name, it brings positivity to him. If however you called him "Muhammad", and most of Muhammad's life was good but at one time he was a pedophile, then you also attribute that negativity onto the name of God when you call him that name.