I agree about the caveat to option "B"; there is a history on Earth of such things, why not on Krypton? Have Houses with their own crests that mean nothing in particular save as an identifier for that House. Its a moot point by now though, as the movies and subsequent comics have firmly put the "S" into option "B". And unfortunately making it mean "hope". Which House on Krypton had "Slime Worm" as the meaning of it's crest?