Pretty sure his name was originally intended to be Owloysius (a pun of owl and Aloysius), but due to the frequent use of "Owlowiscious", that one was simply adopted as the new name. Apparently, in production of TV shows, there are many occurences of things being transmitted either based on sound only when it should be written (like here), or the other way around, leading to misinterpretation. (Whenever you hear a dubbed voice say something with the wrong emphasis for the given context, it's a case of the voice actor having been given nothing but lines to say.)
I hope that he makes a return for season 2, even if he's only occasionally seen in the background. If he ends up just being a one off character, I'll be sad.