so instead of 'home' on each page it would be 'bluewidget' that linked to the home page?
So you have something like
home | about | contact | etc.
and you want to do
blue widget | about | contact | etc.
I follow a link expecting to see blue widget, and am returned to the home page. Which am I, angry or confused? :-)
Methinks your purpose, both in respect to SEO and user response, would be better served by
home | about | contact | blue widget | etc.
and have it link to a page that discusses blue widget in depth, which would naturally contain relevant keywords. By "naturally" I mean not keyword stuffed, but that the term comes up frequently in natural discussion of the page topic that is interesting to the user.