'Just' a factual error - yes. But a big one. Any attempt to enforce the order is going to be difficult unless this person admits that they are the same person as stated in the order. Even then, taking out a garnishee (for example) is going to be problematic because there will always need to be some argument to bridge between the names.
Let's say, to extrapolate on your example, the claim says "John Chihming" and their name is "Chih Ming Tan". That's a markedly different name.
This isn't something that can be fixed via the 'slip' rule. It's also further problematic in that the order may be contested if there's any confusion that the correct person was served with the claim.
You'd have to check the NCAT rules, and possibly speak to the registry, to see how they would want to have the issue fixed. It may require a order to set aside the existing order and a new application.