But the only text that appeared on my favorites was "Home", with a small icon to the left (hardly readable) which said "micro mart" (in very small text)

I may be worth changing your home page title to "Micro Mart - Home" to make it stand out better when on the favorites.

It's quite simple to change the Description / name of a favourite when you save it - just overtype it with something meaningful to you, or right click on it select Rename and change it afterwards.