"I'm guessing there's more that I don't know about?"
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Parahumans Online, abbreviated to PHO, is the "go-to" website about capes. The main website displays recent international news about parahumans, and it also includes a cape wiki, message boards with private message functionality, a chatroom, and other information on cape groups and events. Its URL was Parahumans.net.
Parahumans Online is the premier cape site for gossip and serves as the site of record for parahuman names. If one is not careful a name carelessly chosen or mentioned in passing could be misinterpreted. Long clunky names are simplified for example "Genocide by Scythe" becomes Genoscythe. The community will also change or swap out different names until they meet standards.
The message boards are the most seen section of Parahumans Online in Worm. The most in-depth look at the boards is seen later, which includes some of Greg Veder's posts, which includes sections of a Parahumans Online message boards thread.
↑Parahumans Online is something of a wiki that establishes names. If you don't pick and declare a name for yourself, someone else will (a la Skitter). If you pick a name that's stupid (superdude785) or offensive, the community will name you or strive to rename you (a la Bitch/Hellhound), depending.
Keep in mind that language is always striving to simplify itself. Long-winded names don't tend to get a lot of traction and will become nicknames, which eventually become the new standard. Someone names themselves Cyber Stealth Death Ninjaman ends up getting referred to as Cyberdeath, and that becomes their name.
Getting huffy and going, "But guyyyys! I'm Cyber Stealth Death Ninjaman, not Cyberdeath!" is a fast way to lose rep and have people move even faster to the short-form.
When a villain dies, their name is up for grabs, but if it's just taken without a second thought, then has a way of maintaining bad reps and picking up old rivalries with few of the benefits. That guy who always wanted to stomp Tailspin's ass might get some cathartic release from beating down Tailspin II. Sometimes very stupid villains take a name that's already taken, causing headaches for everyone involved, and invite beatdowns & contests over the name.
Heroes are far more likely to simply ask for permission to use a name. Unicorn III passed her name on to Unicorn IV, for example. - Wildbow on Reddit
↑The hyperviolent capes I’d come to think of as being the red-tagged, like the old capes on the parahuman online site who’d had the ‘do not approach’ banners across their profile. - Excerpt from Torch 7.8
↑A red box near the bottom of the page read, “Rachel Lindt has a public identity, but is known to be particularly hostile, antisocial and violent. If recognized, do not approach or provoke. Leave the area and notify authorities as to her last known location.” - Excerpt from Insinuation 2.2
↑Topping it all off, Oni Lee’s wiki page had a similar red warning box to the one that Bitch/Hellhound had on hers, minus the bit about his public identity. From what they knew about him, authorities had seen fit to note him a sociopath. The warning covered the same essential elements: exceedingly violent, dangerous to approach, should not be provoked, and so on. - Excerpt from Insinuation 2.2
↑Golem was walking on rooftops at the edge of the effect, and he was surrounded by a nimbus of whirling material. By Wanton. We’d already altered all of the data on the group, to imply by news reports and Golem’s powers on the websites that Wanton’s telekinetic storm was Golem’s power. - Excerpt from Sting 26.2
↑All of the people who appear in the (two) Parahumans Online installments are either commenters, forum-posters (in various threads on sites where people are discussing Worm) and people from the chatroom, with slight name changes. - Confirmation by Wildbow on Chrysalis 20.3
↑Their login process notes that her account is a 'cape in civilian clothes' account; they're a cape but has two accounts, and this is the one they switch to when they don't want to broadcast that they're a cape. A kind of legitimate 'sockpuppet' account. - Synopsis by Wildbow