The word Speedophile may have a simply descriptive meaning in urban slang terms (someone who likes going really fast). However, it’s possible that the swimwear manufacturer, Speedo could take issue with this particular logo blazened on the side of a Jetski. The main problem is that in this image, the first part of the word “Speedo” is a different colored font than “phile”. The result is that it looks like “Speedo” is somehow referenced. If the game is released with this detail (and it looks likely that it will be), Rockstar Games may get promptly slapped with a trademark infringement lawsuit.
And, given that Speedo has just shut down a porn site in Australia that featured their logo on a few pairs of swimwear, it seems they are keeping a sharp lookout for trademark infringers.