I don't mind admiting that I am still really, really new to cameras and photography in general. But I wanted offer another slightly different view since I feel like I fit perfectly into one of the biggest target demographics for these camers: beginners who want more than P&S is capable of but something that is less intimidating & more beginner friendly than a traditional dSLR and also less bulky.
Is MILC (Micro Interchangeable Lens Camera) too much of a mouthful? Or maybe even "mirrorless" instead of "micro". Personally, I say "micro" because I agree with the posts about the existing credit from the micro 4/3's system and not as technical sounding as far as jargon goes. Also newbies might not know (or care) about the lack of a mirror. For some of us, all we know is that the cameras are tiny, we can change the lenses on them and picture quality looks great!
I don't mind the EVIL acronym so much but when I goggled it the manufacturer names that jumped out at me were Canon, Nikon, Sony and a few pages with Samsung. That might not be so great for newer folks who are searching for what is familiar and currently available (namely Panasonic and Olympus). Also the EVIL acronym was news to me a few months ago, but I heard about micro 4/3's back during E-P1's release last summer. Another newbie thought is that the EVIL acronym is somewhat confusing. To most of us, that big LCD screen on the back is a, if not THE, viewfinder. Add in the fact that a lot of the current dSLR's have Live View it's even more confusing; technically (in a newbie's mind) don't they have an EVF now too? Furthermore, some of the serious newbies don't know the basic stuff like how a viewfinder on a dSLR works, in fact we may not have ever stopped to consider it. So the EV distinction and that part of the acronym is kind of lost on some of us.
I guess where I am going with all this is that maybe some sort of a combination of EVIL, MILC and/or Micro 4/3's would be the best compromise until the industry decides on a standard name for the category? Prosumers, serious amateurs and pro's will understand all of those terms, while Micro ILC is something that sounds a bit more obvious to a newbie and Micro 4/3's is already established.