It is, they're focus testing final names.
http://www.theverge.com/2015/3/17/8230631/microsoft-is-killing-off-the-internet-explorer-brand
Project Spartan and what it's producing have been known about for months, the only thing that's new about this is official confirmation that IE won't be the main browser that comes with Windows any more.

: But they could call it that. Firefox, Chrome, Opera? The hell do those names
: have to do with the internet?

: At least Internet Explorer's name was true to it's purpose haha.

I think Firefox is supposed to convey speed and being lean, which are key advantages over several other browsers, and Chrome I thought was from the subsystem used by Firefox/Webkit/wherever it came from that was called "chrome" before Google Chrome ever existed, and which the browser uses (I think), but I see someone else is saying differently, so maybe it's that.
Spartan would be OK name though, I think. I don't think they could entirely get away with it though, because to me that says a simple, minimal construction, internally and in the UI, and you can't really get more minimal than Chrome's UI and still be usable, and maintaining compatibility with pages made for Internet Explorer-- because if they don't, who will?-- will surely make the code somewhat bloated.