[jrasicmark]

Correct. I.W. stood for Israel Waldman, who (if I remember correctly) bought up printing plates for comics from a printer that had gone out of business. The plates belonged to comics from a wide variety of golden age publishers (many of which had gone out of business). So he decided to reprint them with new covers. Thing is, just buying the plates didn't mean he owned the copyrights. So yes, he likely changed Blue Beetle to Human Fly to avoid trouble from Charlton. Strange thing is, in most other cases, he threw super hero comics into anthologies with old names like Dynamic Comics or with new names like Strange Planets, so he didn't have any confusion like this with a book named after a character who has a different name on the inside. Sometimes, he'd even have the cover artist change the costume slightly. Not sure why he didn't go with an anthology title here instead of Human Fly. Yet the cover costume is very close to being correct, not disguised at all.

Link to the book: Human Fly 10