This isn't just a name change (they have also jettisoned their former leaders [Eratani/Breaken]) but yes, anyone who was in Awakened for the suspension will still be raid suspended and a new guild tag won't change that.
I assume that they will still be treated as the same entity; however, they will probably be able to avoid more dramatically escalating suspensions since their entire strategy for handling disputes will likely no longer be to just ignore whoever is asking for the concessions and roll the dice with the staff.
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