Reading more and listening to some thoughts about the name has finally brought me to why the name just doesn't work. I like the idea of a short, simple word. I like the idea of something different with a lot of meanings. But 'Wii' isn't that name. Why? A few reasons:
1) Wii isn't the name of an object. It's hard to use, and it shouldn't have to be. Because it's based off of a pro-noun but is forced to function as a noun, and it makes it awkward. The names it is modelled after (iPod primarily) are set after the same principle, but it's not the same usage. It doesn't sound like an object, and there is no brand Nintendo has mentioned that is an object without some sort of noun. It just doesn't work they way they want it to.
2) It's outdated. The 'i' is old. The iMac redefined naming tech objects, and it was brilliant, but it's been 8 years. Everything has an 'i' now, every little device, everything. It's tired, and it's passe. The little 'i' is old, and it's going to be even older in 5 years.
Basically, I like the idea. I like the intent. I like the direction. But the name does not work like it's meant to. It's not that it's disgusting, or terrible, or offensive, it's just not right. It doesn't work.