I'm fairly sure there is no other meaning than the one to which you refer, so its perhaps more likely that you are missing the risqué point being made by assuming the prude levels are higher than you might think. A lot of the folks who make these kinds of hacks, are perfectly fine with the obscure, obscene, perverse nature of their naming of things ... Those of the anthropological inclination may decide that, in fact, an obscene name for something like this is a requisite.

Like how in jargon.txt they used 69 as an example of a big number:

"69 adj. Large quantity. Usage: Exclusive to MIT-AI. "Go away, I have 69 things to do to DDT before worrying about fixing the bug in the phase of the moon output routine..." (Note: Actually, any number less than 100 but large enough to have no obvious magic properties will be recognized as a "large number". There is no denying that "69" is the local favorite. I don't know whether its origins are related to the obscene interpretation, but I do know that 69 decimal = 105 octal, and 69 hexadecimal = 105 decimal, which is a nice property. - GLS)"

I was scared to click on the parent link at work because I KNEW this term had to have a second "urban dictionary" meaning...

For some reason, dirty names are common practice in audio tools. Some examples: "Rectal Anarchy" is another vocal synth for Buzz, grANALizer (emphasis not mine) is a popular granular audio effect, and even in the commercial world, it gets more subtle but it still exists: Image Line sells a plugin called "Gross Beat", which is a bilingual en/fr dirty joke.

How anglocentric

The words "pink" and "trombone" are english words, so there's that...