So a perfect open source name then.

Runk that hog, swedish boy.

Most likely is. Many open source projects have a joke as a name, often containing some form of innuendo or a double meaning. Helps in maintaining the free nature of the tool (corporations don't want anything to do with it) as well as lower expectations on professionalism. Plus it's funny, especially if it's an in-joke of a niche language.

On the topic of "runk", it's also been loaned from Swedish to Finnish as runkata, or to runk = to jerk off. The actual act of it would be runkkaus or runkkaaminen. Can also be encountered in the form runkkari, aka a wanker (I'd assume Swedish had a matching equivalent). So the joke works in Finnish as well.