I've always said that "Norcold" is the truncated company name. The full name is "Fridge is neither working, nor cold".
There's a more truncated name among us Sportsmobile fans, Nocold.
(My best guess was some young Native American kid was messing around with the water pot and dropped it on the rock while goofing off with his friends and got into big trouble when he got home.......kinda like kids today when they drop dad's Coleman jug while camping!!......)