Kde has Kubuntu. Xfce has Xubuntu. Lxde has Lubuntu. It only makes sense that GNOME follows in the same path with Gubuntu. With all due respect, "Ubuntu Gnome Remix" is long and boring.
Ubuntu/Canonical trademark rules:
*buntu names can be used only for INternal ubuntu projects.
Names that include *buntu can NOT be used by community projects like UGR.
We are seeking to become an official Ubuntu project. If this is successful, it is HIGHLY likely we will use Gubuntu. To get there, we have to get approval from a number of Ubuntu boards, mainly the technical board. To get this, we have to prove our work is quality and the project is sustainable. Then, we can get in to the Ubuntu universe, in p-series (12.04) at the earliest.
Currently, we face issues with both quality and sustainability. We're working on a new QA system and rewriting code the right way. We also need a few more core devs so that the project doesn't just die for months like it has.
Note that we CANNOT keep UGR if we become an official Ubuntu project, as 'remix' apparently implies an external project.