What better holiday than Xmas to capitalize on the "X" craze?
Not a terrible way of branding, but it only works if you actually pronounce Xmas like "eks-mas"... it sounds somewhat out of place in a formal setting.
Product and service names are important-- they make it easier for customers to remember the product or service involved. A good name will have lasting memories and positive associations. This improves the effectiveness of advertising, facilitates word of mouth, and thus attracts even more customers, leading to more sales. A bad name for a product won't leave a pleasant taste in your customer's mouth, so please use consideration when naming your product or service.