His name is actually suppose to be error? Well color me surprised, (and woefully obvious I haven't played through Zelda II) but a lost in translation does make sense.
I mean, we are talking about the company that went from Monkey Kong to Donkey Kong.
Also Errol would be a pretty sweet name, but could also be Ellol or Ellor (yay ambiguous r/l phonemes!). Shame it ended up being Error and no one questioned it. o_O