That's talking about the MZ signature at the start of every DOS EXE executable (and therefore every Windows EXE as they have DOS stubs), not this additional use as markers in the DOS memory management code. Which probably is also Mark Zbikowski using his initials, but doesn't seem to be confirmed.
The ARR is probably Aaron R Reynolds (also associated with the AARD code for detecting non-MSDOS environments), but you can't ask for his opinion since he passed about 20 years ago - https://www.reed.edu/reed-magazine/in-memoriam/obituaries/no....
Also https://en.wikipedia.org/wiki/AARD_code and a Raymond Chen story involving aaronr - https://devblogs.microsoft.com/oldnewthing/20190924-00/?p=10... and a pic of him with the Windows team - https://web.archive.org/web/20191014055254/https://community...
from another os2museum.com article about MS-DOS, https://www.os2museum.com/wp/dos/dos-3-0-3-2/