Why you ask? Simple, it doesn't touch the target's mana at all. It removes pips. So, maybe a better name would be Pip Exploder. Mana Burn implies that it drains mana away, and it doesnt.
I think at this point, it would be more confusing to change the name for older players. It would take KI a bit of work to change on the spell card and all TCs and it might not be worth the effort.