Come out for the official renaming ceremony where Chivalrous will be renamed to Ascelon. There will be a scribe on hand to record it and I will be giving away all my nice items (ok, that's a lie). Hearthstone Courtyard, Landing. Thursday, April 5th 9pm eastern.
Questions:
Will Chivalrous be around anymore?
No, this is an official rename, you won't see Chivalrous in game anymore and Ascelon will become him.
Are they separate characters?
No, the character is the same, same history, race, profession, age, level, friends, back story, achievements, etc. The only thing that has changed is the marker that shows up in the front-end when the character walks in the room.
Isn't his "real name" Olivier, why didn't he become that?
Yes, but Olivier wasn't open. His full name is Olivier Ascelon Grayhaven. Call him what you want, you can still call him Chivalrous if you like.