There were a few factors.  When you work on something for a long time, you want even the name to mean something.
First, there’s the descriptive acronym:  Compact Optimized Dual Aerophone.
Secondly, I liked the name.  Easy to say in many languages, like the name of a friend, a musical companion.  Lastly, “In music, a coda (Italian for "tail") is a passage that brings a piece (or a movement) to an end.”  https://en.wikipedia.org/wiki/Coda_(music)  For me, Coda is the end result of a long pursuit…  and the beginning of the next movement.