It's whimsical, I like it. The purported SEO rationale behind it is completely laughable (really, folks? People are going to judge the degree of phyggishness of LW by googling LW and phyg together, and you're going to stand up and fight that? That's just insane), but it's cute and harmless, so why not adopt it for a few days? Of all reasons to suspect LW of phyggish behavior, this has got to be the least important one. If using the word "phyg" clinches it for someone, I wouldn't take them seriously.