Wouldn't popcorn be a better name?
"Popcorn" is generic and makes it hard to search for the project, and easy to clash with another project of the same name.
I wish people invented good unique name for projects, instead of trying to make a (b)ackronym or a subtle reference using a generic word.
Anyways, I doubt naming McKernel had any thoughts of McDonald's and the implication of the cheap dollar menu.