There's quite a mixed message there: the original palantir was under Sauron's control, and the shire was to be saved from the wielder of the panopticon..
The palantíri were created by Elves and only much later captured by Sauron and used for evil.
Possibly quite an appropriate name then... :-|
I can appreciate how self-aware their name is.
Definitely appropriate and completely disingenuous is the 'Save the shire' shirts. Should be more like 'Advancing Mordor'.
I really wanted one of those when I lived in Palo Alto so I could get the Palantir discount at Philz...