Well sure, and it could probably function as a perfectly fine band name. I'm fairly picky about names though almost to a fault. Hell, you can see my bands name is really really simple "The Sipps". One guy here in town wanted me to play bass with his group "Mezzetin"
The wiki explains it here --> "
Mezzetino, also Mezzettino, (Pron.
met-zeh-TEE-no) is a character from the
commedia dell'arte and is considered by Duchartre"
Personally it'd get bothersome always having to explain, spell, etc. the name. Your experience will vary
It may serve well to ask folks who have no idea what those words mean what they think upon hearing it because your average bar/venue crowd probably won't take the time to look it up. I've been in a band with a name that people didn't easily ID or spell. We kinda just became "that band with the name that needs to be written down to remember". We fixed that by doing business cards so it is a work around. It can be a bit annoying constantly explaining the difference between Faux and Foe though.
At the end of the day just pick whatever makes you happy and make it work.