Call me daft, but could the iWatch trade mark possibly be a tv service, and or tv based product?
Others in this thread already had that idea (countless times^^) and while it would be the most brilliant deception, it would also seem very unusual for Apple to name a product with an "i" + a verb.
Hasn't happened in the past, iPod, iMac, iPhone (though that's a noun AND a verb), iPad - all are using "i" + nouns to form the product name.
If they wanted to go the "iVerb"-path in the future, wouldn't they have called iTunes Radio "iListen" instead?
As is looks like Apple is preparing to launch both a TV service and something that fits the wearable computing category, it also wouldn't make that much sense to waste the better fitting name "iWatch" for a wrist-worn smart device for a TV device/service, when they already have the brand "Apple TV" (tho "iTV" is the name of a big british tv station, to expensive to buy that name).
The "iWatch" will be much more than a watch, just like the "phone" is just an app running on the iPhone, but people need easy to understand names to understand products.
It was easier for people to grasp what an iPhone is - a phone with a computer in it - than it would have been with another name and the focus on being a portable computer with a phone in it.
That will also be true for the iWatch, people understand the concept of a watch with some additional capabilities (think calendars and there also have been watches with calculators for years^^) better than the concept of a lifelogger/notification-device with a watch as an added function.
So it will be called iWatch, because that name is easier to understand instantly than any other imaginable name.
The iWatch will be the smartwatch made by Apple.
Sure, there's the possibility that the iWatch also has something to do with future versions of the AppleTV, like a remote-"app" running on it + Siri-capabilities to control the TV.
Would be quicker and easier to reach for your wrist than to the iPad lying on the table in front of you or saying "SIRI, switch the channel to X" (which would drive me insane if i owned a Xbox One or one of the Samsung SmartTVs^^).
(Hey, what about a bundle of both, a new version of the AppleTV (the little black box, not a huge screen version), capable of running apps and the iWatch to control it, price about 400-500$?)
But the name won't be given to the TV, when it's so much better fitting for a smartwatch.