"Our early Mac beta versions of Democracy Player were called 'DTV'– we didn't think that we could be 'Democracy' until we had something substantial to offer... In all our debates about whether you could call something 'Democracy' and how people would react to the name, we hadn't realized that so many people would simply assume that the software was for politicians and videos about politics."
With that, the new name will be Miro, and a there's a lesson to be learned here in the meantime: if you've got a potentially creative, but ultimately too symbolic and image-burdened name for your software, think twice about it. You can't always expect casual users to look beyond the name of an application to see its real use. Anyway, check out the official word from the folks themselves to get the full lowdown.