Personally, I don't like it. Simply because it's too childish in nature.
I know Nintendo was trying to have a lot of symbolism tied to the name, and Wii certainly has symbolism in spades. There's the obvious pronunciation of the word, "we", the two i's representing two people gathering together to play, and the two i's representing the revolutions unique controller.
I just don't like the fact that everytime I want to play my Revolution I'll have to say, "Alright guys, I'm gonna go play some Wii for a bit." What if I'm bummed and I gotta now force out a "Wee"? Which is exactly why I'm going to continue to call it Revolution.
Even though the name is not very appealing, regarless of what it is called, I am going to buy one, play it, and love it. It could be called the "Synthetic Machine for Intense Gaming." Or SMIG.
While I'm on the general subject of the SMIG, I would like to say that, if Nintendo was truely aiming for a family console, they are off to a bad start. The only games I've seen, or heard about for the revolution so far are pretty violent. Such as Red Steel, were the Revolution controller takes form of the gun in the game, and it accuratly responds to how you hold the controller. The game is supposed to be incredibly violent, and supposed to be filled with realistic blood effects, and the like.