I think we should move ahead with expressionengine.stackexchange.com. ExpressionEngine is the name of the product about which we will answer questions. Obsfucating that under some clever wordplay would lower the find-ability and clarity of the site IMHO.
If EL were to actually mount a legal challenge the change the site name (can you even imagine it?), I think few of us will retain interest in being here anyway.
UPDATE: I've initiated a discussion with EL about this, and have had very prompt replies from Derek Jones. Will update folks here as their official thoughts on this shake out.
UPDATE 2: From Derek Jones:
"I've been in touch with both Jay Hanlon, StackExchange's VP of community growth, as well as Michael Pryor, their co-founder and CFO".
So it looks like EL is actively pursuing sorting out whatever they need to with the SE folks.