[throwawaykf03]

I thought so too, and was a bit put off because it sounds like a word a teen in the 60's would use.

But it could also be short for "modifications", as in "XBox mods". (Ostensibly to appeal to tinkerers?)

The best part of a name is, you don't have to explain it -- let people derive whatever meanings they want. You'll often be surprised (and not always pleasantly!) at the unexpected connotations people derive from a name.