Whenever there is a significant change to the procedure such as routing, altitudes, fix names, it is given a new name. So the Lizard Two was previously the Lizard One. The next change will make it the Lizard Three and so on.

Typically your clearance limit is your destination. The logic behind this is they are planning on you being there at that time. They will obviously see your squawk code and know that you are Lost Comm. At the ETA, they should clear the airspace for you to commence the approach of your choice. However they do not know which approach you are planning. Because we have the freedom to choose our approach we should not leave the "clearance limit" (maybe last filed waypoint) early because the controller doesn't know our intentions. At the ETA, the controller should be expecting you to proceed and will plan accordingly. Makes sense in my head atleast.