I really dislike this idea. A name should give you a good idea what the site is about within the constaints of having to be short. Cutesy names with meanings to only a few basically say "Outsiders need not apply".
I don't like names like Stack Overflow, Stack Exchange, Sever Fault, and the like. I don't know these sites well enough to remember what they really stand for, and frankly find it a bit insulting. It's definitely a turn off to the site. I had vaguely heard of some of these sites before, but since the name didn't tell me what it was about I just ignored it. Maybe it's just me, but I'm not interested in closed groups with secret handshakes.
"Electrical Engineering" is a good name because it says what it is. If this site had been called "ShortCircuits", I probably wouldn't have clicked on the link to persue it.
Think about it, cutesy names are aggrevating to the uninitiated because they don't tell you anything, and give the general impression of flakiness and a bunch of giggly girls as apposed to people who pay attention to detail and take the subject seriously.
I would like to see the remaining cutesy names on the larger site fixed. I for one can never remember what each of Stack Overflow, Server Fault, Stack Exchange and the like mean.