Apparently it was a codename that went public:
https://microsoft.fandom.com/wiki/OS/2#1994.E2.80.931996:_Th...
OS/2 2.x included a lot of 16-bit code in an allegedly 32-bit OS. 3.x replaced most of this, was supposed to be faster and more stable as a result, and it also included the ability to incorporate your existing install of Windows 3 and run it under OS/2 in place of the previously-bundled "WinOS2".
So it could take your existing 16-bit OS and apps and warp them into a new 32-bit OS that could use hundreds of megs of RAM and multitask dozens of apps.
It was meant to indicate "warp speed", Star Trek style, but IBM didn't get permission first...
https://arstechnica.com/information-technology/2019/11/half-...
As for it becoming part of the name? Not sure, it’s marketing, I suspect they thought it made the OS sound fast or something