Yeah, the rationale behind removing the shields is that it reduces friction and increases speed. I think its true. I used to do it in high school.....but I've always been rough on bearings...balls out...so I keep em on now. Abec 7 Black Panthers since 03.
& Oddity: I'm gonna ahead and say those are all joke terms. But if you're hankerin' for some odd skating terms, heres some weirdo Cali terms that never caught on with skating as a whole:
-Banana Foot: A term used to describe when someone lands a trick with their toe(s) hanging over the edge of their deck & touching the gorund (AKA Toe Touch/Drag).
-Apple Foot: Same as above^, but for heel(s).