[Facts] If you ask Spike Lee...
...he'll most likely say it sure beats being called "Shelton" (the name he was given at birth).
Sheltons get beat up in the schoolyard, but nobody messes with a Spike.
And, of course, a "spike" is a sharply pointed object which can be used as a weapon, thus conveying a "tough guy" image.
Alternately, in American slang, the expression "to spike" something means to make it ineffective; to frustrate. As in the expression: "to spike a rumor."
-- Nanaea