This Plugin allows BuddyPress and Wordpress users to change the "Display name publicly as" field for ALL users, at any time.

fmeroney

BP Display name is a very light weight plugin that performs a powerful function. When using BuddyPress with WordPress the display Name, or displayname, in the members directory can be different from the display name in the users profile. We solved this with a simple plugin that defaults the display name of all existing and future members. Change the display name site wide, keeping names consistent thought 
your site. It can be changed at any time to 5 different choices, those are:
<ol>
<li>Username</li>
<li>First Name</li>
<li>Last Name</li>
<li>First & Last Name</li>
<li>Nickname</li>
</ol>
Simple, yet effective. The admin side couldn’t be more easy to understand. In the future we will be testing with bbPress forum name.

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