Peloton is in fact the French word for platoon. I'd be highly surprised if the bike maker had the legal standing for issue infringement claims. Just as you can't copyright the word "bicycle", peloton is used widely enough that they should be fine. Then again, Jade the preprocessor was forced to rebrand as Pug.

Peleton is a word referring to the main group in a bicycle endurance race, so it's not the same as calling your software "Wal-Mart." In this case it seems like the fact they are in completely different markets would be sufficient.

The first commit was:

  commit 35823950d500314811212282bd68c101e34b9a06
  Author: jarulraj <jarulraj@cs.cmu.edu>
  Date:   Thu Dec 18 16:41:48 2014 -0500

Take a look at the different graphs on GitHub, like code frequency, to get a better idea: https://github.com/cmu-db/peloton/graphs/code-frequency

Peloton also means fearless in finnish, so the name could be based on that.

That's not how trademarks work.