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I like cryptic.
Plus, we started with a simple idea that riding fixed was a lot of fun (especially when combined with alcohol) and to bring together people who enjoyed that.
But what we've become is now bigger than that... and in many ways better. We are now a large group of people that just love having fun on bikes, and also like good stuff like alcohol, espresso, etc.
We tend to all have fixed or singlespeed bikes still... but so many of us have geared cyclocross, mountain bikes and road bikes.
So long as the differentiator is "we have fun on bikes (oh, and we like a drink sometimes and don't take ourselves too seriously)" then the name can be cryptic.
We also aren't even necessarily just London... which I also like. It's good going to Cambridge and seeing people having fun on bikes there, and so on.
Cryptic names FTW.
Is it deliberate that LFGSS isn't spelt out in full on the homepage anymore? Seems a bit odd to have an acronym without the full version.