I see your point. Hoverwheel is not a bad name as it does help convey the self-balancing idea quickly as most are familiar with other hover products (i.e., hoverboards, hoverskates, etc.). The only real issue I have with it is that it may also carry the connotation of being a toy instead of transportation. I may be nitpicking though. It is still much better than the EUC term.
I'm new to the this world, so I still empathize with the point of view of someone unfamiliar with the device. As trivial as terms seem, I think it's a serious issue to understanding and adoption.
If you think this does not happen, think about the unfortunate mathematical term "imaginary numbers". This name has prevented many from understanding the concept of a number plane instead of a number line since many people look at the term and think it's impossible to understand anything imaginary. Point is, I'm afraid the same is happening with the EUC term. I personally would not ride a normal unicycle because of the low benefit to difficulty/learning curve and I think that it is fair to put the majority of people in the same box (otherwise there would probably be more unicycles riding around). If I heard the term unicycle without fully grasping what it was, I'd dismiss it completely.
It is worth noting that if EUCs gain traction some other way, then this conversation is irrelevant as the EUC term will then be widely accepted as a standard idea just as it is to people on this forum. In essence, this is really a conversation on how to share the idea of these devices more efficiently so the knowledge can spread with as little resistance as possible.