#2
Junior.

It's the new Gibson budget line. Some like them, some don't. I can't stand those pickup covers.

On the plus side, you'll probably be able to buy a used one in a few years for around $400.
#3
Actually, it's just "J", not Junior. Juniors are still around as a little different style apparently.

I bought one of those, pretty nice guitar if you like the way it looks.
#4
I've heard ALL kinds of options, such as "Janky."
Maybe there was a guy named Jim on the production line who suggested the specs, and they named it after him. Maybe it's supposed to bring back echos of LBJ. Maybe it's named after the Lettuce, Pork and Jelly sandwich that they sell in the lunchroom at Gibson.
#5
Pretty sure it's Junior.

LPJ or SGJ makes a lot more sense than calling it Junior because Junior makes you think it is a smaller version of the standards. It is likely just a marketing thing to clear that up a bit and move them a little more.