I know for a fact that it's a codename for Exia. But from what we've seen of the Exia by far...it has already unleashed around 5 swords? Or 7? In any case, I still think Exia hasn't revealed its real form as of yet. The way Lockon said it could be taken in 2 ways:
the way you thought it really is (just a codename, nothing more), or it could be actually a code name for something else, double meaning, if you may. The Exia is shaping up to be the codename it was named for (Seven Swords), or the Seven Swords could be an upgrade (along the lines of IWSP, Deep Striker, that kind of thing) with which it could unleash its full potential. Damn, the Seven Swords could be the AD equivalent of the Zero System (and it's the one that makes Setsuna think that he is the Gundam, LOL
) for all we know. Come to think of it, I haven't heard the project codes for the other Gundams, and it would be really unusual for the Exia to be the only one with a project codename...which makes it even more suspicious.
In any case, it is still too early to say that Exia has already shown what it really can do.
@
Duo Maxwell