In both cases it's a moot point; the name, yeah I can laugh at it and make fun of it, but really it makes no difference in the usability of the product; and the battery life issue, while annoying, is easily managed by having 2 sets of rechargeable batteries - pretty much a requirement with any wireless mouse.
Other than those two fairly insignificant issues, this is a great mouse and I can't imagine using anything else right now.