I was curious about the team name so I went looking, and there's no explanation at all. Here, for example, is what the team president wrote as a direct response, and it contains precisely zero usable information:
https://ottawasun.com/2013/06/08/ott...r-the-cfl-team
What if that random guy had suggested Teacups? Or Lunar Modules? There's no explanation for this name at all. The only thing I can even theorize is that perhaps a previous football incarnation used those colors for reasons that are also not explained.