I agree with the other answers. No serious chemist uses any word other than "water" in whatever language the chemist uses.

However, the name does appear to be following the [established rules][1] for the [systematic naming][2] of [binary main group][3] [covalent compounds][4].

>Take for example $\ce{N2O5}$:

 1. We list the elements in order of increasing electronegativity: nitrogen oxygen
 2. We convert the second element's names in "-ide": nitrogen oxide.
 3. We use prefixes to indicate the number of each element. Note the the "-a-" in "penta-" goes away to make pentoxide easier to pronounce: [dinitrogen pentoxide][5].

We need this sort of system to give us unambiguous names for binary compounds, especially when, for example, there are multiple oxides of nitrogen: [$\ce{N2O}$][6], [$\ce{NO}$][7], [$\ce{N2O3}$][8], [$\ce{NO2}$][9], [$\ce{N2O4}$][10], and [$\ce{N2O5}$][11].

Note that we rarely use the "mono-" prefix: $\ce{NO2}$ is nitrogen dioxide.

And we never use prefixes with the binary hydrides. The acidic ones are all named like ionic compounds, as are the metal hydrides, and the non-acidic ones all have common names that are used so frequently it is silly to use more complex names:

 - $\ce{NaH}$ [sodium hydride](http://en.wikipedia.org/wiki/Sodium_hydride)
 - $\ce{BH3}$ [borane](http://en.wikipedia.org/wiki/Borane)
 - $\ce{CH4}$ [methane](http://en.wikipedia.org/wiki/Methane)
 - $\ce{NH3}$ [ammonia](http://en.wikipedia.org/wiki/Ammonia)
 - $\ce{H2O}$ [water](http://en.wikipedia.org/wiki/Properties_of_water)
 - $\ce{HF}$ [hydrogen fluoride](http://en.wikipedia.org/wiki/Hydrogen_fluoride)
 - $\ce{PH3}$ [phosphine](http://en.wikipedia.org/wiki/Phosphine)
 - $\ce{H2S}$ [hydrogen sulfide](http://en.wikipedia.org/wiki/Hydrogen_sulfide)
 - $\ce{HN3}$ [hydrogen azide](http://en.wikipedia.org/wiki/Hydrazoic_acid)

>Water would thus be **hydrogen oxide** if anything.

Even though there are other possible oxides of hydrogen (or hydrides of oxygen), they have different names based on the anions:

 - $\ce{H2O}$ - [water (hydrogen oxide)](https://en.wikipedia.org/wiki/Water) 
 - $\ce{HO2}$ - [hydrogen superoxide][12]
 - $\ce{H2O2}$ - [hydrogen peroxide][13]
 - $\ce{H2O_n]$ - [trioxidane (n=3), tetraoxidane (n=4), pentaoxidane (n=5)] [14]

  [1]: http://pac.iupac.org/publications/pac/pdf/1971/pdf/2801x0001.pdf
  [2]: http://www.chem.purdue.edu/gchelp/nomenclature/covalent.htm
  [3]: http://www.kentchemistry.com/links/naming/NameCov.htm
  [4]: http://en.wikipedia.org/wiki/Binary_compound#Binary_covalent_compounds
  [5]: http://en.wikipedia.org/wiki/N2O5
  [6]: http://en.wikipedia.org/wiki/Nitrous_oxide
  [7]: http://en.wikipedia.org/wiki/Nitric_oxide
  [8]: http://en.wikipedia.org/wiki/Dinitrogen_tetroxide
  [9]: http://en.wikipedia.org/wiki/Nitrogen_dioxide
  [10]: http://en.wikipedia.org/wiki/Dinitrogen_trioxide
[11]: 
https://en.wikipedia.org/wiki/Dinitrogen_pentoxide
  [12]: http://en.wikipedia.org/wiki/Hydrogen_superoxide
  [13]: http://en.wikipedia.org/wiki/Hydrogen_peroxide
  [14]:
https://en.wikipedia.org/wiki/Hydrogen_polyoxide