Well, it's not really so much levity as remembering where the day came from, which I think by renaming it we forgot. Likewise, there's a lot of confusion between Memorial Day and Veteran's Day, and if you realize where Veteran's Day came from, it's easier to remember what's what. Is having 2 days too many? Unlikely.
As to Vietnam, I wasn't old enough to remember it when it ended. But I think we have collectively learned that disliking a war is not the same as disliking the men sent to fight it, and except for very radical people, will not make the mistakes which (I feel) were made when the men returned from Vietnam.