If you base the purchase of a new console on a name, then you seriously need to reconsider why you play video games.
I loved the Wii when it was still known as the Revolution, and I still love it now. Check out the flash at the Nintendo site, it explains why they went with the name.
Lots of extremely popular things had unpopular names when they were first announced. Everyone remember the iPod? I still think iPod is a dumb name. And of course, I'm sure everyone here remembers how hated "Nintendo DS" was. But it's still the top portable console, and no one bitches about the name anymore.
I didn't like the name at first, but it's grown on me and I see how it fits in with Nintendo's vision.
I seriously doubt you're going to see the wee-wee jokes outside of the internet and outside of your local high school. Seriously, people are more mature than that.