The place name may be a reference to Blaise Pascal, an influential 17th Century French mathematician and philosopher. In honour of his contributions his name was given to the SI unit of pressure, and a programming language.
The DHARMA Initiative probably named all of the Island's geographical features after noted scientists/mathematicians (ie., there could be a "Maxwell Valley" or "Skinner River" or "Mt. Pasteur" on the Island.)
The place name may also be a reference to Rascal Flatts, an American country band.
This is unlikely since the writers haven't seemed to name locations after pop culture. They will name episodes after witty and popular phrases but that is about as close as you can get.