Don't get me wrong, I think the project is a neat one. I like the features, I like the goal, and honestly I just like new-language projects in general. So please don't think I'm hating on the project.
But your argument for the name is so utterly broken.
First of all, having a PhD in CS and introducing 3 security holes is no reason to blame the language. It's not even necessarily a reason to blame yourself. Since when is a PhD in CS supposed to make you a good software engineer? If it is, I know a lot of PhDs who got a raw deal.
Second, how does your language fix the three security bugs you introduced? The only security feature I see in your highlights list is "secure by default: no eval, no magic quotes/string interpolation". 99 out of 100 competent PHP programmers force magic quotes off (so if your brother didn't, he can shut up), and most bugs that can be introduced with string interpolation can be (and usually are) introduced with string concatenation (which I assume you can still do).
Third, the main thing you demonstrated with this story (as others have said) is that you aren't very good with PHP. That's no big shame, but it's also not a reason you "own the right to call this language PHP.reboot". This reasoning is crazyface.
Fourth, as others have said, calling it "PHP.reboot" just confines it to the ghetto. If it were to grow, people wouldn't be able to search for articles/blogs/forums/help/mail/etc about it without getting lost in the PHP (even admitting that for me googling "php reboot" does return your google-code repo). And right in the name it says "I'm the wanna-be little brother of the big successful language". Although I don't think this last criticism is a problem, because I assume the goal was not to actually replace PHP, because that's impossible for reasons others have mentioned. So, no big deal.
The GOOD argument for the name is "It's just a toy language, so it doesn't matter what it's called, and rebooting PHP was my motivator when I started this particular project."
Oh, and as an aside, if one page of PHP is your web programming experience, then you really should probably not be shipping an HTTP server.