The LMS we used previously (Sakai) simply allows instructors to change these titles on a per course basis. The default titles are just as bad (for instance, I always change Resources to Handouts). Their default is "lessons" which, for a college professor, also doesn't describe how we arrange and talk about our teaching. (I think of it as courses with individual classes that are arranged into units, personally). It's fine to keep Modules as the default if that's what matches with the community help, but it would also be good to tell allow people to adjust those titles based on the structure and organization of their own class.
For instance, some college courses have labs. Others are organized as studios, others have workshops. Seems arbitrary to force everyone to stick with modules, a term nobody I know of ever uses in a US college setting.
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