Well, the naming thing was probably a little near sighted. When they first started I think they had hopes of creating access points for everyone in America. I don't know if they seriously thought they would ever be successful in that goal let alone reaching beyond America. It would be appropriate to change their name since they have reached that status but rebranding at this stage of the game would be seriously expensive and could ultimately be their demise since everyone knows them as AOL.
Anyway, it's a lot of fun to fill in the letters of the acronym with more meaningful words: "America Off Line", "Always Off Line", "America's Online Losers", "AOhelL" etc...