diff --git a/lib/redis/objects.rb b/lib/redis/objects.rb
index 1db0ed1..724f1c5 100644
--- a/lib/redis/objects.rb
+++ b/lib/redis/objects.rb
@@ -101,16 +101,63 @@ def redis_objects
         @redis_objects ||= {}
       end
 
-      # Set the Redis redis_prefix to use. Defaults to model_name
-      def redis_prefix=(redis_prefix) @redis_prefix = redis_prefix end
+      # Toggles whether to use the legacy redis key naming scheme, which causes
+      # naming conflicts in certain cases.
+      attr_accessor :redis_legacy_naming
+      attr_accessor :redis_silence_warnings
+
+      # Set the Redis redis_prefix to use. Defaults to class_name.
+      def redis_prefix=(redis_prefix)
+        @silence_warnings_as_redis_prefix_was_set_manually = true
+        @redis_prefix = redis_prefix
+      end
+
       def redis_prefix(klass = self) #:nodoc:
-        @redis_prefix ||= klass.name.to_s.
-          sub(%r{(.*::)}, '').
-          gsub(/([A-Z]+)([A-Z][a-z])/,'\1_\2').
-          gsub(/([a-z\d])([A-Z])/,'\1_\2').
+        @redis_prefix ||=
+          if redis_legacy_naming
+            legacy_redis_prefix(klass)
+          else
+            legacy_naming_warning_message(klass)
+            modern_redis_prefix(klass)
+          end
+
+        @redis_prefix
+      end
+
+      def modern_redis_prefix(klass = self) #:nodoc:
+        klass.name.to_s.
+          gsub(/::/, '__').                     # Nested::Class => Nested__Class
+          gsub(/([A-Z]+)([A-Z][a-z])/,'\1_\2'). # ClassName => Class_Name
+          gsub(/([a-z\d])([A-Z])/,'\1_\2').     # className => class_Name
           downcase
       end
 
+      def legacy_redis_prefix(klass = self) #:nodoc:
+        klass.name.to_s.
+          sub(%r{(.*::)}, '').                  # Nested::Class => Class (problematic)
+          gsub(/([A-Z]+)([A-Z][a-z])/,'\1_\2'). # ClassName => Class_Name
+          gsub(/([a-z\d])([A-Z])/,'\1_\2').     # className => class_Name
+          downcase
+      end
+
+        # Temporary warning to help with migrating key names
+      def legacy_naming_warning_message(klass)
+        # warn @silence_warnings_as_redis_prefix_was_set_manually.inspect
+        unless redis_legacy_naming || redis_silence_warnings || @silence_warnings_as_redis_prefix_was_set_manually
+          modern = modern_redis_prefix(klass)
+          legacy = legacy_redis_prefix(klass)
+          if modern != legacy
+            warn <<EOW
+WARNING: In redis-objects 2.0.0, key naming will change to fix longstanding bugs.
+Your class #{klass.name.to_s} will be affected by this change!
+Current key prefix: #{legacy.inspect}
+Future  key prefix: #{modern.inspect}
+Read more at https://github.com/nateware/redis-objects/issues/231
+EOW
+          end
+        end
+      end
+
       def redis_options(name)
         klass = first_ancestor_with(name)
         return klass.redis_objects[name.to_sym] || {}
diff --git a/spec/redis_legacy_key_naming_spec.rb b/spec/redis_legacy_key_naming_spec.rb
new file mode 100644
index 0000000..26663f3
--- /dev/null
+++ b/spec/redis_legacy_key_naming_spec.rb
@@ -0,0 +1,299 @@
+require File.expand_path(File.dirname(__FILE__) + '/spec_helper')
+
+require 'redis/objects'
+Redis::Objects.redis = REDIS_HANDLE
+
+require 'securerandom'
+
+require "stringio"
+
+def capture_stderr
+  # The output stream must be an IO-like object. In this case we capture it in
+  # an in-memory IO object so we can return the string value. You can assign any
+  # IO object here.
+  previous_stderr, $stderr = $stderr, StringIO.new
+  yield
+  $stderr.string
+ensure
+  # Restore the previous value of stderr (typically equal to STDERR).
+  $stderr = previous_stderr
+end
+
+describe 'Legacy redis key prefix naming compatibility' do
+  it 'verifies single level classes work the same' do
+    class SingleLevelOne
+      include Redis::Objects
+
+      def id
+        1
+      end
+    end
+
+    obj = SingleLevelOne.new
+    obj.class.redis_prefix.should == 'single_level_one'
+  end
+
+  it 'verifies single level classes obey the legacy naming flag' do
+    class SingleLevelTwo
+      include Redis::Objects
+      self.redis_legacy_naming = true
+
+      def id
+        1
+      end
+    end
+
+    obj = SingleLevelTwo.new
+    obj.class.redis_prefix.should == 'single_level_two'
+  end
+
+
+  it 'verifies nested classes do NOT work the same' do
+    module Nested
+      class NamingOne
+        include Redis::Objects
+        self.redis_silence_warnings = true
+  
+        def id
+          1
+        end
+      end
+    end
+
+    obj = Nested::NamingOne.new
+    obj.class.redis_prefix.should == 'nested__naming_one'
+  end
+
+  it 'verifies the legacy naming flag is respected' do
+    module Nested
+      class NamingTwo
+        include Redis::Objects
+        self.redis_legacy_naming = true
+        self.redis_silence_warnings = true
+  
+        def id
+          1
+        end
+      end
+    end
+
+    Nested::NamingTwo.redis_legacy_naming.should == true
+    obj = Nested::NamingTwo.new
+    obj.class.redis_prefix.should == 'naming_two'
+  end
+
+  it 'verifies that multiple levels respect __ vs _' do
+    module NestedLevel
+      module Further
+        class NamingThree
+          include Redis::Objects
+          self.redis_silence_warnings = true
+    
+          def id
+            1
+          end
+        end
+      end
+    end
+
+    obj = NestedLevel::Further::NamingThree.new
+    obj.class.redis_prefix.should == 'nested_level__further__naming_three'
+  end
+
+  it 'verifies that multiple levels respect the legacy naming' do
+    module NestedLevel
+      module Further
+        class NamingFour
+          include Redis::Objects
+          self.redis_legacy_naming = true
+    
+          def id
+            1
+          end
+
+          redis_handle = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT, :db => 31)
+          value :redis_value, :redis => redis_handle
+        end
+      end
+    end
+
+    NestedLevel::Further::NamingFour.redis_legacy_naming.should == true
+    obj = NestedLevel::Further::NamingFour.new
+    obj.class.redis_prefix.should == 'naming_four'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'naming_four:1:redis_value'
+  end
+
+  it 'verifies that multiple levels do not conflict 1' do
+    module NestedLevel
+      module Further
+        class NamingFive
+          include Redis::Objects
+          self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+          self.redis_silence_warnings = true
+    
+          def id
+            1
+          end
+
+          value :redis_value
+        end
+      end
+    end
+
+    obj = NestedLevel::Further::NamingFive.new
+    obj.class.redis_prefix.should == 'nested_level__further__naming_five'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'nested_level__further__naming_five:1:redis_value'
+    obj.redis_value.redis.should == obj.redis
+    obj.redis.get('nested_level__further__naming_five:1:redis_value').should == val
+  end
+
+  it 'verifies that multiple levels do not conflict 2' do
+    module Nested
+      module LevelFurtherNaming
+        class Five
+          include Redis::Objects
+          self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+          self.redis_silence_warnings = true
+    
+          def id
+            1
+          end
+
+          value :redis_value
+        end
+      end
+    end
+
+    obj = Nested::LevelFurtherNaming::Five.new
+    obj.class.redis_prefix.should == 'nested__level_further_naming__five'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'nested__level_further_naming__five:1:redis_value'
+    obj.redis.get('nested__level_further_naming__five:1:redis_value').should == val
+  end
+
+  it 'verifies that multiple levels do not conflict 3' do
+    module Nested
+      module LevelFurther
+        class NamingFive
+          include Redis::Objects
+          self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+          self.redis_silence_warnings = true
+    
+          def id
+            1
+          end
+
+          value :redis_value
+        end
+      end
+    end
+
+    obj = Nested::LevelFurther::NamingFive.new
+    obj.class.redis_prefix.should == 'nested__level_further__naming_five'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'nested__level_further__naming_five:1:redis_value'
+    obj.redis.get('nested__level_further__naming_five:1:redis_value').should == val
+  end
+
+  it 'handles dynamically created classes correctly' do
+    module Nested
+      class LevelSix
+        include Redis::Objects
+        self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+        self.redis_silence_warnings = true
+
+        def id
+          1
+        end
+
+        value :redis_value
+      end
+    end
+
+    obj = Nested::LevelSix.new
+    obj.class.redis_prefix.should == 'nested__level_six'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'nested__level_six:1:redis_value'
+    obj.redis.get('nested__level_six:1:redis_value').should == val
+
+    DynamicClass = Class.new(Nested::LevelSix)
+    DynamicClass.value :redis_value2
+    obj2 = DynamicClass.new
+    DynamicClass.redis_prefix.should == 'dynamic_class'
+    obj2.redis_value.should.be.kind_of(Redis::Value)
+    obj2.redis_value2.should.be.kind_of(Redis::Value)
+    obj2.redis_value.key.should == 'dynamic_class:1:redis_value'
+    obj2.redis_value2.key.should == 'dynamic_class:1:redis_value2'
+
+  end
+
+  it 'handles dynamically created classes correctly in legacy mode' do
+    module Nested
+      class LevelSeven
+        include Redis::Objects
+        self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+        self.redis_legacy_naming = true
+
+        def id
+          1
+        end
+
+        value :redis_value
+      end
+    end
+
+    obj = Nested::LevelSeven.new
+    obj.class.redis_prefix.should == 'level_seven'
+    val = SecureRandom.hex(10)
+    obj.redis_value = val
+    obj.redis_value.should == val
+    obj.redis_value.key.should == 'level_seven:1:redis_value'
+    obj.redis.get('level_seven:1:redis_value').should == val
+
+    DynamicClass2 = Class.new(Nested::LevelSeven)
+    DynamicClass2.value :redis_value2
+    obj2 = DynamicClass2.new
+    DynamicClass2.redis_prefix.should == 'dynamic_class2'
+    obj2.redis_value.should.be.kind_of(Redis::Value)
+    obj2.redis_value2.should.be.kind_of(Redis::Value)
+    obj2.redis_value.key.should == 'dynamic_class2:1:redis_value'
+    obj2.redis_value2.key.should == 'dynamic_class2:1:redis_value2'
+  end
+
+  it 'prints a warning message if the key name changes' do
+    module Nested
+      class LevelNine
+        include Redis::Objects
+        self.redis = Redis.new(:host => REDIS_HOST, :port => REDIS_PORT)
+
+        def id
+          1
+        end
+
+        value :redis_value
+      end
+    end
+
+    captured_output = capture_stderr do
+      # Does not output anything directly.
+      obj = Nested::LevelNine.new
+      val = SecureRandom.hex(10)
+      obj.redis_value = val
+      obj.redis_value.should == val
+    end
+
+    captured_output.should =~ /Warning:/i
+  end
+end
diff --git a/spec/redis_objects_conn_spec.rb b/spec/redis_objects_conn_spec.rb
index 5cac0cd..8028f57 100644
--- a/spec/redis_objects_conn_spec.rb
+++ b/spec/redis_objects_conn_spec.rb
@@ -34,8 +34,8 @@ def id
     obj.redis_value.value.should == nil
 
     obj.default_redis_value.clear
-    obj.redis_value.value = 'foo'
-    obj.redis_value.value.should == 'foo'
+    obj.redis_value.value = 'bar'
+    obj.redis_value.value.should == 'bar'
     obj.default_redis_value.value.should == nil
 
     obj.redis_value.clear
diff --git a/spec/redis_objects_model_spec.rb b/spec/redis_objects_model_spec.rb
index 17c2e62..f72bec8 100644
--- a/spec/redis_objects_model_spec.rb
+++ b/spec/redis_objects_model_spec.rb
@@ -966,9 +966,13 @@ class CustomIdFieldRoster < UidRoster
   end
 
   it "should pick up class methods from superclass automatically" do
+    Roster.redis_prefix.should == 'roster'
     CounterRoster = Class.new(Roster)
+    CounterRoster.redis_prefix.should == 'counter_roster'
     CounterRoster.counter :extended_counter
     extended_roster = CounterRoster.new
+    Roster.redis_prefix.should == 'roster'
+    extended_roster.class.redis_prefix.should == 'counter_roster'
     extended_roster.basic.should.be.kind_of(Redis::Counter)
     extended_roster.extended_counter.should.be.kind_of(Redis::Counter)
     @roster.respond_to?(:extended_counter).should == false