[Graham]

I was under the impression that KrapSpeed is one level higher than ludicrous speed. 

Colonel Sandurz: Prepare ship for ludicrous speed! Fasten all seatbelts, seal all entrances and exits, close all shops in the mall, cancel the three ring circus, secure all animals in the zoo!

I am thinking that the name is actually an intentional mis-spelling by the entrant of the word Krak as in Cornish structures perhaps ??