It is a strange error in that it appears to be complaining about the PlaneProjection itself but that could be a red-herring.
The xaml is not correct because the PlaneProjection does not have a Name property. However you should be able to x:Name. My guess is you are trying to ensure you have a field called pp that you can manipulator in code. You can now use pp as a field in code or find the PlaneProjection using FindName on the control.
This is what I think your Xaml should look like:-
<Image x:Name="MyImage" Source="blabla.jpg" Height="200" Width="200" >
<Image.Projection>
<PlaneProjection x:Name="pp" />
</Image.Projection>
</Image>
TBH, I would simply access the projection as MyImage.Projection rather than add an x:Name to it.