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The reason why devices are listed by code name is because sometimes there might be variants of the same device.
For example:
The HTC Artemis is the code name for the XDA Orbit and the MDA Compact III
Both are the same devices but XDA-Developers are not going to make seperate forums for the XDA Orbit and MDA Compact III even though they are the same device.
Instead, they use the codename of the device so that everyone can relate to it. Problem solved.
Regarding the HTC Leo, they have listed it as 'Leo' even though there is probably only going to be one variant of the device - HD2. This is because from the start they have used codenames for listing their devices, so it would be illogical to stop using codenames halfway through.
That is my best understanding of it, I could be wrong.

1st: XDA II
2nd: XDA IIs
3rd: XDA Exec
4th: XDA Orbit
5th: XDA Orbit II
6th: HTC Diamond
7th: HTC Touch HD
8th: HTC HD2
9th: HTC Desire HD
10th: HTC Sensation
11th: Samsung Galaxy Nexus
12th: Samsung Galaxy S3 (GSM)
HTC One (M7) (GSM)
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