i wish you would have not edited this idea.  That way the history if renaming the satellite object and that being something that is not supported would still be here.   Im not a fan of revising comments and such.  

I would suggest posting an idea to cover this line from your first post, instead of renaming the _satellite object."My reason for wanting this is to allow a configuration where two or more Launch instances are deployed on the same page." 

This is not supported in any fashion at this time.  Please do not do this.