I don't know- personally, if I were a villain, I would probably keep my somewhat innocuous name. (although my last name is German, if that counts as ominous sounding?) That way it would help deter would be heroes. After all, who would consider a poor grad student with a normal-ish name to be threatening? It would give me a lot more time to build my death ray or whatever else I was going to use to take over the world with.

Not that I have any plans for it. Too much hassle to govern. ;-)