Yeah that makes sense. When it comes to alpha-numeric designations, there's a lot of overlap out there already. I doubt Volvo can trademark "XC" and prevent other manufacturers from using it.
On a side note I tracked down the post on ToyotaNation. As Dorikin said, it really doesn't have that much info, and I'd be prone to say alot of it is just conjecture. But basically it is said to use a revised 2.4L engine thats found in the Camry tuned to around 185hp. They said xenon, sunroof, and 17" wheels will be standard on the new "Tc", which will be a sporty 2-door coupe. Pricing is said to be "well under 20k".