The Foo is obviously from Foobar. Google translate says "fuyin" is "copy" in Chinese, which I guess could make sense since it's a copy of foobar2000. It also says "fooyin" is "I'm sorry" in Somali, which is probably a coincidence because that makes no sense.
EDIT: One of the screenshots in the README is in Chinese so yeah that's probably it.
The Foo is obviously from Foobar. Google translate says "fuyin" is "copy" in Chinese, which I guess could make sense since it's a copy of foobar2000. It also says "fooyin" is "I'm sorry" in Somali, which is probably a coincidence because that makes no sense.
EDIT: One of the screenshots in the README is in Chinese so yeah that's probably it.
Very close! Name is based on the Chinese 福音 (fúyīn) meaning good news, with foo coming from foobar as you correctly deduced.