Mike,
I too wanted to designate where the link in "Home" went to but also wanted to rename "Home" to something else. This is what I did.
1. Under the main menu option Your Shop....Pages tab...Homepage section, select the second option, "Use pages tool and enter my own content", then OK
2. Under the main menu option Pages...Basic Info tab (to the far right of the screen)...Pages and Menus, select the newly created "Home", and then click on the Edit Page icon. Rename the "Home" page and then OK.
3. In your HTML editor (and I use the most excellent CoffeeCup HTML Editor :-), create a php page with the following content:
<?php
header( 'Location:
http://www.Whatever_URL_you_Need' ) ;
?>
...and name this "home.php"
4. FTP the newly created "home.php" to the root folder of your shop, replacing the "home.php" already there.
Now when you click on your renamed "Home" link in your shop, the URL in your new "home.php" will load. The only caveat to this is each time you publish your shop, you need to upload your customized "home.php" page but this will give you a work around...
Hope this helps,
--dave