WRT name speculations: the next Mass Effect doesn't have a name yet, just a working title that we have used since day 1 of the project.
Fortunately we don't need to spend too much time thinking about this flimsy rumor. Even if Mass Effect: Contact is the name for the project right now, it doesn't matter because BioWare's going to replace it with some other title.
Guessing the title is a bit difficult because we know essentially nothing about the game's story. All that BioWare has confirmed so far is that it doesn't star Commander Shepard. They won't even say whether it's a prequel or sequel. The story could really be anything.