I have no information on whether EasyJet will rebrand or not, but it is not unheard of for companies to talk about a rebrand with an unconventional name, but actually do something radically different
A well known example of this is when PriceWaterhouseCoopers (aka PwC) announced the rebranding of its consulting arm to 'Monday'. Seven months later, PwC sold its consulting arm to IBM
BBC NEWS | Business | Monday name change for PwC
If flyorange is to be the name, then a Mr John R Van der Ree living in Hilversum in the Netherlands who registered the flyorange.com domain on 20 July 2006 is likely to make quite a bit of money soon.