Snark Hunting, the "naming and branding blog," thinks that Nintendo is setting up us the bomb:
Well, I'm sure they'll get plenty of hits for that. But I am pretty damn sure they're wrong. Snark Hunting says they haven't found any registered trademarks for Wii in either the US or Japan. Okay. But apart from that, their only 'evidence' is that they don't like the name. Sounds like wishful thinking -- and nothing I've heard from Nintendo's public relations representatives indicates that Wii is anything but a final name.
Plus, the distrust that such a move would engender between Nintendo and certain members of the media, who would have all been tricked into writing false stories... I hardly think they'd do that.