As I understand it both incarnations of the early coupling between engine and gearbox were referred to as compensators. I'm guessing some mechanical system attempted to smooth out those big torque pulses hence the name.
The latest Centa coupling though surely cannot support this title as its simply a flexible drive employing elastic components, in this case four vaguely sausage shaped inserts.
I was therefore dissapointed to hear the dealer I recently ordered my M3W from refer to it as a compensator as well.
Regards - Richard