as oskar says, there's no benefit to using that very name. If you wanted to, you could only use a single initialize function with a bunch of anonymous functions within and events but it does not make for very easy code to read, extend and maintain.
i tend to use methods like this.setupScene()
and this.attachEvents()
to abstract different actions. within these methods, i tend to loop through items and call smaller pseudo-private methods that do the singular dom manipulation required or element.addEvent, aka, this.elements.each(function(el) { this._attachEvent(el, "something"); }, this);
If you are sharing code with other users, there are certain conventions most mootools authors try to adhere to when releasing plugins or contributing to the core and more forks.
for example, if the class relates to an element or an array of elements, always set this.element = document.id(el);
etc.
for reference on best practices: http://ryanflorence.com/11-tips-for-creating-great-mootools-plugins/
or even http://davidwalsh.name/mootools-class-tips
after a while, they start making perfect sense and will help you tremendously in your work.