I've never heard paisucho, although Nicaraguans seem to know it well, which leads me to suspect that it's a Nicaraguanismo... The -ucho is not often used in Spanish. Diminutives are common (ito/a, illo/a), and the augmentive most heard is ón or ona.
You can't always tell what's what by how things look or sound when it comes to regional language use. One example in Spanish is bicho. In many countries this means a bug. In others it is slang for penis.
Then there're the sound-alikes:
pucha ~ chucha ~ chuta ~ puta
Two of the four are okay; two are unacceptable in "proper" conversation. I had a run-in with those in Chile...