Bob Dylan's poor diction is legendary (it is said that he patterned his singing style after Woody Guthrie, who was suffering from Huntington's disease by the time Dylan met him, resulting in Guthrie uncontrollably slurring his words). This makes Dylan easy to mishear and misunderstand.
In addition, people frequently mishear lyrics, sometimes consistently. Consistently misheard lyrics are known as mondegreens.
It would seem out of character for Dylan to change one of his songs in this way --the name doesn't make any sense in that context, and why would he need to hide it? He frequently references the names of real people in his songs, when he wants to, and doesn't hide it at all, so fitting it into an existing song for no reason seems unlikely. So, I don't know if I can convince you of this fact, but you're almost certainly just mishearing this.