The answer really depends on "in what sense" do you mean it. Sometimes in industry, to keep a chemical secret, it's given a code name, that's shorter and easier to say. Also, a mixture won't have just one chemical name, and will be given a short name.
But once a chemical's composition and structure are known, (and I don't watch that particular program, so I don't know if that's the case,) then it should have a chemical name based on IUPAC naming conventions. For example, if you see the molecular diagram, spinning on a computer screen, while a bunch of people in lab coats and non-trendy eyewear go, "Hmmm, yes, this methyl group here, verrry interesting," then yes it has a better name.