Sounds a bit childish and goofy to me. I think they're trying to go the way of 'google' and 'yahoo', but Wii just doesn't work. Google and Yahoo works because people really don't take those too seriously... but a gaming console, well, the last thing people want is to be view even more childish when playing games.
This isn't a precedent for Nintendo either. Nintendo was the first console to have online service actually, and they had big plans for it... including things like checking stocks online. But somebody who has stocks to check, weren't really thrilled with sitting infront of their console and using their joysticks to go check those stocks.
I think they're trying to make this console hip by using a silly name... but kids don't want to think they're playing with a kids system... they want to think they're playing an adult system. And adults, well, adults don't want to think they're playing with a children's system either.