As for the pronunciation of '^H', I just hear the sound of the backspace key being hit.
I use "^H" sometimes, and the related "^W", but I admit that for me it's doubly geeky, as I myself never actually had to hit "control-H" to backspace, but learned the usage from other posters on Usenet. But it can be handy, I think.

ABC, Limited, Inc., his hilarious sendup of Searle on Austin.

I've had the privilege of attending a lecture by Searle, and have also endured a lecture by Derrida. My memory of the monograph you refer to, is of thinking that a supposedly great thinker like JD should do better than cheap shots like making puns on someone's name.