Yes, the correct name is now "Site URL". Facebook changes that every few months, and we try to make the terminology correct with new releases, but right now, it's a little out of date.
If your site is "
www.mywebsite.com", I'd recommend the following settings:
Application Name: Whatever you want - Generally, your site's title "My Cool Website"
Site URL:
www.mywebsite.com/
Base URL: website.com
The error should dissappear after these settings are configured in your application. It may take anywhere from 1-8 hours for it to properly propagate through Facebook, so give it some time if you still see the error. If it persists, let us know.. there may be something else wrong.
Thanks, and good luck!