As per 5th edition, when mazdamundi possessed the mysterious quango. The creature emerging from the egg quickly died of old age shortly after. No reference existed back then to wether it had wings or how it even looked.
I always imagined it as something more weapon than beast, that even as a new born is able to do extreme and merciless damage during its unnaturally short lifespan. Therefore a beast, more claw and maw, than body would perhaps be appropriate.
Then 8th edition added wings.
Given its origin in the pun-frequent 5th edition, it may be a reference to a joke I dont get. A guy on pyramidvault had this to say:
"The egg hatches into a baby quasi non-governmental organization.
It continues throughout its life receiving goverment funding but acting independantly of it.
The quango can be very vicious, striking other companies and hiding behind papa gov't whenever it's in danger."
The similarity in name, might be a coincidence. That being said, GW is/was pretty keen on basing names loosely on something grounded in reality, rather than making up names out of the blue.