Personally I don't think disc names need any kind of systematic naming. Teebird, Buzzz, Wizard, etc all work fine especially since most companies use some type of flight numbers. Obviously they can't be taken as 100% truth but they give some indication of what to expect.
I think people have poked enough holes in the Prodigy and Discmania naming systems, and at least this seems to be a better version of either. I personally don't think it's necessary to have the discs color coded by type and have the classification "p&a" or whatever, and have flight numbers, and have a symbol denoting stability. I do like however that the number on the stamp after the disc classification is the disc speed itself and not a 1, 2, 3, etc that makes it difficult to add new molds later. So in reality one color denoted for fairways could have numbers 6, 7, 8, 9 or whatever since all those speeds could be considered fairways. Each mold has a model name then to identify it, looks like they're going with birds.
Seems like some redundant info on the disc...maybe they're hoping a couple of different schemes will appeal to pretty much anybody. Personally I think it's a bit much, but if the plastic is nice and the molds fly well the rest really doesn't matter.