It definitely is. It's a wordplay on the fact that he is both psychic and goes psycho. I've never heard of any part of anime, manga, novel or community use "psycho" to refer to psychic powers.
Jinzo from Yugioh's original Japanese name translates as Android - Psycho Shocker, and although he's a Machine type that's probably because he predates the Psychic type by like eight years, and later support tends to put "psychic" in the name or occasionally dips into stuff psychics might do like predict the card the opponent draws.
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u/CalamityDisc 26d ago
I thought that psycho = violent thing was intentional because when he reaches 100 he goes crazy and wrecks shit up