Albeit my eternal love for the Valar, which is, in Galadriel's words, as deep as the abysses of the ocean, I disagree with this suggestion: the spell is perhaps both the most iconic one and the most basic among the other spells, in guise of a very canonical reminder of the beginning of BFME1. Therefore, I would say that this sort of duality of
Elven Wood would demand that its title be kept as it is, clear and simple. Furthermore, Yavanna's power is theoretically present in anything green and growing on earth, and in this precise case she's not directly involved or there are not really the proper conditions which could justify her intervention either. Finally, may I say that Elves are the very race that is meant to heal Arda and cure its wounds, by the taking care and nurturing of the actual environment. That's why, being the game set in the late Third Age, I would like more if the spell's own name retained a more Elves-related character (in the most literal of the senses).
Besides, I have already proposed something more interesting for the spellbook, internally. Hopefully, it might find a way in the game and would truly be a brilliant lore reference. From the oldest tales of the lore, which are the ones I enjoy the most