"Satyrs were male creatures who inhabited woodlands and forests in Greek mythology...the satyrs as a group were passionately fond of females - especially nymphs..." [Loggia.com]
Today nymph refers to the immature stage of insects with incomplete metamorphosis. Since Satyr - the application - is designed to help you catch bugs before they have a chance to multiply I thought the name fit perfectly.
Hmmm...Clearly I spent too much time thinking about this ;-)