I'm kind of torn on the subject. On the one hand, the God Particle is much more catchy than the Higgs Boson, and will attract many more people. The guy on that bus would not have been interested in CERN at all if the Higgs Boson had never been called the God Particle, and even though he was arguably interested for the wrong reasons he is still someone who is a little more informed who would otherwise not be. I'll admit the first time that I read about the Higgs Boson the thing that grabbed me was that it was called the God Particle, and I have a degree in physics (if just a bachelor).
On the other hand the name is extremely inaccurate, and I can see why that bugs a lot of physicists. Basically the question is, do the pros of increased public awareness outweigh the cons of inaccuracy and confusion over what the Higgs Boson actually is? I think... probably.