You must be using Fast Compression for backups. Fast Compression names the backups automatically and is controlled by LiteSpeed. The backup names cannot be modified. If you are on LiteSpeed 7.02, LiteSpeed will create folder names automatically at backup time, so you could use \\SHARENAME\%SERVER%\%D or any combination of the dynamic variables in the folder name and LiteSpeed will then automatically organize all your backups on disk for you. But for Fast Compression, LiteSpeed controls the exact backup name for full and differential backups. Transaction Logs are performed on a different schedule outside of the Fast Compression process and you have more control over file names.
I hope this helps.