No, seems it is supposed to be french: https://en.wikipedia.org/wiki/Parler#History
Isn't it more like Par-leh ? Parl-lay is more how english people say it after hearing it instead of reading it.
As to the first thing, huh. That's silly. Parlor -> Parler makes sense in a Tumbler -> Tumblr, grinder -> grindr, whatever fashion. Usoing just "Parler" is like naming your program "Talk". Very useful.
As to the second, the problem is most anglophones have a lot of issues pronouncing any -ee sound without adding the "y" to the end of it. It's the long, open vowel of hey, way, wait, hay, gate, but without the ending blow whose name in English I forget. It's one of the most recognizable tells of an American speaking French or Dutch.