The name is a joke, the project is not. "LiveScript was one of the original names for JavaScript, so it seemed fitting. It's an inside joke for those who know

The name is a joke, the project is not. "LiveScript was one of the original names for JavaScript, so it seemed fitting. It's an inside joke for those who know JavaScript well." (from the site) LiveScript hasn't been used as a name for JavaScript in almost two decades.