> It’s likely ‘skank’ in the name is a variation of ‘skunkworks’ which was the team working on the device.
Right, sure it is.
Urban Dictionary is nowhere near the mark then, with widely accepted definitions of the slang term from circa 2004: http://www.urbandictionary.com/define.php?term=Skank
Edit: To be clear I read it as being "trashy", "tacky", "ugly". There are numerous definitions, I wouldn't have attributed (nor imagine anyone else attributing) the most unsavoury definitions to anything.