Seems bizarre to me. In a marketing sense it doesn't seem to make sense. You're trying to promote the name PixInsight and get that to be the word that people think of when they think of high end, top quality, highest performance astro imaging software (or whatever the desired descriptions are).
Now the message will be confused with a pile of short lived code words. If version 1.7 was going to be the latest version for the next 5 years then that would give time and space for a code name to take hold, and give a reason for a marketing splash (i.e. helped by a new code name) to be used at the release of version 1.8. But I hope version 1.8 is not 5 years away. And secondly, nobody needs to be told (in a marketing sense) when version 1.8 comes out, the software update tells them.
And it makes each code named version sound like a different product....."I use Starbuck"...."Oh I use StarChaser"....."Actually mate that's just the latest release of the same product called PixInsight and if you'd used it in the last month it would have told you."
And when someone on the forum talks about a feature in Starbuck vs a feature in StarChaser I will need to go to my wall chart that shows the code names vs Version Number history to work out which came first.
Sorry to be negative...just my two pennies worth.