Hi Danny,
I see the problem. Right now there are only tags for 1 name, either the customer purchasing or the person it is being sent to. This is an oversight and will be fixed. To fix it for your installation, you will need to edit a php file:
in www/administrator/components/com_awocoupon/assets/virtuemart/ps_awo_giftcert.php, around line 203
change
<?php
array('{website}','{gift_certificates}','{user_first_name}','{user_last_name}','{recipient_message}','{image_embed}'),
array(URL,$mycodes['text_gift'],$mail_key[$this_mail_key]['first_name'],$mail_key[$this_mail_key]['last_name'],$mail_key[$this_mail_key]['message'],$embed_text),
?>
to
<?php
array('{website}','{gift_certificates}','{purchaser_first_name}','{purchaser_last_name}','{user_first_name}','{user_last_name}','{recipient_message}','{image_embed}'),
array(URL,$mycodes['text_gift'],$customer_first_name,$customer_last_name,$mail_key[$this_mail_key]['first_name'],$mail_key[$this_mail_key]['last_name'],$mail_key[$this_mail_key]['message'],$embed_text),
?>
Then you can use {purchaser_first_name} and {purchaser_last_name} for the purchaser and {user_first_name} for the receiver.