Most likely, Combee does not come from both words. While it does have elements of both, the entymology for the name Combee is exclusively Honeycomb + Bee. Combine does fit into the word Combee, but that is just a coincidence.
For example, Castform is a fusion of Forecast + Form. However, the tern Overcast also fits into the name. However, Castform was not named after overcast.
TL;DR Probably not, but possibly.