Really, talking about this is rather pointless unless SpaceEngineer changes his mind about wanting to stick with the current name. Although personally, I'd be a big advocate for changing it - the current name makes it sound very technical (which I suppose it is), but I think that would deter new people from downloading it. When people think of engines in terms of software, they think of behind-the scene programs, not necessarily meant to be used for fun.
For that reason I do think it should be renamed. However it should't sound like the name of a fun action-packed video game either, because it's certainty not that. The name also shouldn't be a phrase - a lot of these name ideas sound more like subtitles than titles.