Turning my comment above into an answer, for those who don't have acces to the article.
Huang's one page paper is satirical, and explains why the algorithm is named after what is does instead of who invented it. He includes the names of all the major influential people (Cooley, Tukey, Danielson, Lanczos, Good), and describes an international committee who make a list of possible names and their acceptability to different groups. For example, he writes: "The British liked the term 'the Good Scheme,' because they said after all the scheme was very good." and "the Russians said they would go along with the name Danielson-Cooley-Tukey algorithm, because the algorithm was actually invented by the great Soviet mathematician Danisovich Cooleytusky." The Chinese interrupt to say it was really invented 4000 years ago, like everything else, and so it ends up being named after a (fictional) Chinese emporer.
The Gentleman and Sande article in the comments to the question ("... for fun and profit") explains that it is named for what it does, and goes on to detail how it compares to other algorithms.