Responding to a demand for a spread that did not need butter, Kraft relaunched Vegemite in June this year with a creamier texture and held a competition to find a new name. It still looks and smells like the old Vegemite but is more spreadable. How? They added cream cheese!

So iSnack2.0 is a poo-coloured, dairy-fat laden spread for the new generation – mmm, tasty.

The new name was announced during half time at the AFL final in Melbourne on Saturday. By the end of the game iSnack2.0 was a dirty word on Twitter (see #vegefail) and Australian blogs are full of it too, crikey.com.au is a goody. Who cares that the Geelong Cats won, iSnack2.0 is getting all the press.

Kraft Foods head of corporate affairs Simon Talbot defends the new name, saying it “was chosen based on its personal call to action, relevance to snacking and clear identification of a new and different Vegemite to the original. We believe these three components completely encapsulate the new brand.” And even if people don’t like the name, “fundamentally they like the new product”.

More than 2.8 million jars of the stuff has been sold since June.

Is the new name so bad it’s good for publicity? Will one taste turn me into a web nerd touting html code in an annoying Aussie accent?

But wait, there’s more!