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R2-D2 was refferenced as Artoo's serial number (or something like that) in TMP. We know from the Death Star countdown sequence that the GFFA uses arabic numerals, so aparently they've had some sort of contact with an Earth-esque culture. Perhaps Roman letters are to them what Greek letters are to us--archaic symbols no longer in use except for droid clasification.
The name itself came from an abbreviation of "Reel 2, Dialogue 2" when Lucas was shooting "American Graffitti", or something like that. I'm not sure of the specifics, I'm just sure of the "Reel 2, Dialogue 2" bit.
