Bang on mate.
It's really a non-word, I don't even think that they should try and justify it, infact I'm quite surprised that they told us how to say it. I think it would have been far more interesting to leave it slightly anonimous.
As a symbol, I think it works really well, cute little antenna dots 'n' all. Must admit that I'm not crazy about the typeface choice though. It just doesn't look very professional.