Johnny Au is definitely trying to make fetch happen with his "Champagne Corner." I'm not sure whether persistence will be successful in getting people to refer to it that way, but hey, it's worked in the past, so I can see why he's trying it out.
I'm not interested in calling it the Champagne Corner. But I'm definitely more on the side of the dreamers who want to be a little extravagant when it comes to talking about Toronto. The "sophisticated" take on Toronto is often one of unrelenting negativity - and it seems to be a way for people to socially indicate "I live in Toronto, but I'm more sophisticated than everyone else here." I think it's actually quite brave to come up with a romantic name for a Toronto street corner and then persist in calling it that, even when people turn their noses up at you.
This is a board for Toronto dreamers - I'm not sure why one person's dream is one too many for some people here.