Lets say you wanted to create a view that would select all the values between the first two astrices in a column you could say:
 create view junk1 as
select
substr(eo_num_bcd,instr(eo_num_bcd,'*',2,1)+1,((instr(eo_num_bcd,'*',1,2) - instr(eo_num_bcd,'*',1,1)))-1)
from eo;

Not that you would want to do this, eo_num_bcd is never updated, it is a simple example. Lets say you wanted to capitalize the second word in a column you could change the * to a space in the example below.
 update the mytable set mycolumn = initcap(substr(mycolumn,instr(mycolumn,' ',2,1)+1,((instr(mycolumn,' ',1,2) - instr(mycolumn,' ',1,1)))-1));

What abount making the first letter after the first / capitalized?
 update scientific_name set scientific_name = initcap(substr(scientific_name,instr(scientific_name,'/')+1,1));