Does fileMove() do exactly the same thing as <cffile action="rename">?
No they are different. There is no CFML Script function available to do a file Rename. So, the above use case is just a trick to achieve file rename.
You have to specify the same source and destination folder but change the file name in <destination>.
filemove("c:\userdata\files\myFile.docx", "c:\userdata\files\yourFile.docx");
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