Metric time is a better name, since it states that this time comes naturally from our common metric system, and something is very very off that we don't use it.
I don't think it is misleading. Although there is a name-collision with the SI time system that some people call metric time [0] already. I don't know how many people, or how official it is. I'll probably keep calling decimal time metric time, and we'll see if there is a real collision/confusion/misleading.
As mentioned elsewhere in the thread, it's called the metric system because the values were derived from the meter. Decimal time has nothing to do with the meter, and "decimal" refers to it being base 10.
