A "name" Is a preliminary sketch done by the mangaka so that they can get an idea of the layout and overall look and feel of the manga they are trying to create. It is like the equivalent to writing a rough draft for a paper or book.
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According to Takeshi Obata, the "Baku" part comes from Bakuhatsu (Bomb), Bakuchi (gambling), and Baku (monster). While the "Man" is the first part of Manga.
Screw
doodoo
sexy
It usually means that you are thinking of that person. Wether you are aware of it or not.