A bit about multiple calendars ...

1) Have 1 exchange account and it's calendar name is "default". Than local calendar is also "default" -- is there an option to rename calendars? ATM only different color can be assigned.

2) Local calendar is useless -- at least on my device I cannot create event and save it to local calendar.

Steps to repeat: disable exchange calendar, create event and there is no option to mark, on which calendar event should appear. Save event and check calendar -- event is not there. Enable exchange, check calendar -- event is there and with color, assigned to exchange calendar.

I have no idea how behaves if there is no exchange calendar.