Its the Roman numeral for 2000 (M=1000) Its pronounced Mee-lay and the measurement of a Mile comes from the fact that 1000 paces (a left and a right step) of an average Roman soldier was this length.
The reason it is there is because that model is the Classic MM, or Classic 2000. I forget when CRK introduced the "regular" model, but so many people wanted the older, "classic" design again that it was reintroduced in 2000. Now CRK produces both the regular and the classic.
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