Palinandrism - Is It A Word?

A good friend of mine made a comment using what seemed to be a made-up word and got thinking of famous people who often display their idiocy by doing this in the full glare of the public. When you're at school you will often make up words in this way and think you are the first person to think of this . Pter Andre decided he was a genius when he came up with "Insaniac" on reality TV. He  made a single , sold lots of records , so maybe he was. Sarah Palin came up with "refudiate"  and compared herself with Shakespeare  because of it . Well the bard is four hundred years in the ground , and most people would like Sarah Palin to be in the same situation , so again I suppose she is right in a way. See the article here.

Anyway I combined therir names and came up with Palinandrism (noun: Masking your shortcomings in vocabulary by making up words) , putting myself in that group. I'm just wonder if anyone else will start using it. How do words come into being . I know the compilers of the Oxford English Dictionary have something to do with it.

Also my vague IT background exposes me to lots of meaning less names and phrases which generally want you to punch the perpetrator's lights out. "Thinking Outside The Box" , "Obfuscation", "Object Orientation"  and "Blue Sky Thinking" are several that just annoy me , and they are the tip of a large ever growing iceberg (though not sure whether that is the correct metaphor to use. Anyway that's my rant so far....