Also note that on some keyboards it has the U+2638 character engraved.
Anyways, I had the same issue when I first started using Linux. It probably took me over a year to realize the caret stood for ctrl, and that's only because I accidentally typed it in something that printed the codes literally.
On top of that, the shortened 'ctrl' is really a terrible abbreviation. It's not obvious that it stands for 'control' and I would guess that most non-techy people would have no idea that it means this word. Plus, it's near to another key with multiple letters ('alt'). The overall effect is that 'ctrl' appears to just be a jumble of letters with some esoteric meaning. A really odd design decision. Why not just put 'control' on the key and be done with it?
Not sure I've ever seen a Mac keyboard that said "control", but maybe that's because I've mostly seen Finnish keycaps.
Perhaps the standard is something to do with the country (mine is a UK layout).
Right, and the classic book The Unix Programming Environment (by Brian Kernighan and Rob Pike) uses ctl-d.