I know there's been some guessing as to wether or not MX stands for something. I don't know if anyone has mentioned this yet but according to TechTV the M is for Macromedia and the X is for 10 because it is their 10th anniversary.
Here a link to the article:
http://www.techtv.com/screensavers/showtell/story/0,24330,3375554,00.html
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Let's try that link again
