Hello diyan9,
You are welcome. As I understand the iSCSI target naming convention is as it is (IQN and EUI). That is the format universally supported. The same works in Linux environments as well. So question is not whether VMware supports it. It is, is there any other official supported format by anyone else? I suppose no. I am yet to see any other official supported Target naming convention. Please let me know if there is any other format.
Hope this clarifies a bit more 