Login to your control panel and navigate to Design > Themes > Edit HTML & CSS and open the Panels/TopMenu.html file.
Find the code %%LNG_YourWishList%% and replace it with your own text.
Save your changes to the file.
Want to keep the language variable intact?
Login to your control panel and navigate to Design > Themes > Edit HTML & CSS then open the Panels/Footer.html file.
Add the following code to the bottom of the file (replace List with your own text):
The final file should look like this:
Save your changes.
How Does It Work?
Is The Wish List Missing From The Top Menu?
The wish list is turned off by default. You have to turn it on from the control panel by navigating to Setup & Tools > Store Settings > Display (tab) and checking the Enable Wishlist? option.