If they just called it the CIP queue instead of Fast Track, it does take the irony out of the concept at LHR. It is sufficient vague for the lay person to understand but does reflect reality since premium class passengers and frequent flyers do contribute commercially to the airlines.

thats "Commercially Important Passenger" for the uninitiated

Fairly sure Premier were designated as a CIP on the manifest prior to the Premier concept being launched. I think airport lounges may have once been have known as CIP lounges where they were shared by various airlines in by-gone days.