Not sure about getting rid of the application name, but we used PAT (port address translation) and NAT (network address translation) to map our stream site at port 80 to our DMZ Wowza server at port 1935.
Allows us to use standard ports but our main website and stream site come from two different urls - .e.g. www.company.com and stream.company.com
After that we did the same for SSL - stream.company.com:443 maps to our internal server at port 1936 (our custom SSL port). So may be worth talking to your network guys, or if your Wowza server is exposed externally and NOT in a DMZ, you could just change the port in the application.xml to port 80.
As for your application name, perhaps a hack would just be to rename the application name to STREAMS. Remember Wowza SE (at least the Windows version) appears to be case sensitive to URLs.