I know that the term comes from the original Nuzlocke comic, named after a Nuzleaf that looks like John Locke from Lost.
Is there all there is to it? Or am I missing some character reference (because I've never watched Lost)?
Nuzlocke started from 4Chan. A user called Nuzlocke decided to make his own comic called Ruby: Hard Mode, which after he created his own website Nuzlocke Comics and then after that some more comics then our Nuzlocke challange :P
'Nuzlocke' is a portmanteu of "Nuzleaf" and "Locke", referring to his first wild catch in Ruby: Hard Mode
So yes that's basically all there is too it fondant ^_^