I don't think the name is that bad. Just as bad are names like Google, git, lisp, etc.
1. offensive slang for a disabled person. 2. a person who dresses up in leather for sexual purposes.
Not a great name for a piece of software. Apparently there's a third older meaning, some kind of braided string. I'd never heard of that one before I looked it up just now though.
I do think of something like a gimp leg though. I.e. a damaged leg which can't support you properly.