IMO it's a poor choice of name. Forget the confusion with the Volt, but not every electric car name needs to evoke electricity. It's a name that isn't going to age well.
That aside, if it weren't for the bucket seats in the back, we would have checked out a car like this before getting our Prius. With the $7500 EV credit, this is a reasonable price. It can get me to work and back more than twice on a charge, which is about what I need to feel comfortable about range.
That said, it is a concept car, and won't be available until 2017.