I wish people would stop naming products like this (nginx and imgur are other examples that spring to mind) because it's a complete nightmare for dyslexics like myself.
We have problems enough with spelling and pronunciation due to the vast and contradicting rules in the English language, but at least acronyms stand for something meaningful (eg I can remember KVM because it's a Kernel-based Virtual Machine). But names like SPDY are a nightmare because I have to remember which letters are dropped; and an even bigger nightmare to read as I need to memorize how it's intended to be pronounced rather than simply sounding out the letters like any other sane word would.
What's more, I'm an English native. So I can't imagine how much harder names like this are non-English speakers too (and let's be honest, most of the worlds populous didn't learn English as their first language).
So please, if you're in charge of naming a new product, think about the fact that not everyone in the world is as gifted at English as yourself; and that not everyone wants to learn a separate additional verbal and written rule for each and every proper-noun just because it's seemingly now 'cool' to use TXT SPK in names.
</rant>