I was whiteboarding with a fellow (girl) student in college. We were sketching out a client/server architecture, and I abbreviated server as "srvr". When it came to the client, I thought I should also make it four letters, so I wrote "clit". I stood back and looked at it. After a couple seconds pause, it dawned on my brain that was probably a terrible shortening. I wordlessly erased my gaffe, and just wrote out the whole word.
So yeah, I can believe it happens by mistake at times.
I once forgot that calling a solution "quick and dirty" is a raunchy double entendre until the lady I was demoing something to said "kinky". But your example is far more embarrassing.
So yeah, I can believe it happens by mistake at times.