It's vapid, though most party names are vapid. It's presumably meant to convey some sort of centrism, but centrism turns out to be a harder sell than you'd expect. It sounds nice until you try to figure out what it actually is, and then you realize that all the "centrists" in the room have little in common.
I'd say it doesn't really matter because it sounds like a complete non-starter to me. But then, my track record of spotting political black swans has a huge blot on it, so I wouldn't take my opinions as meaning much.
America - named after Amerigo Vespucci who was an Italian explorer - is composed of North America and South America.