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Don't get me wrong I can come up with a dozen or so side-line marketing & promotional reasons to play around with the name and its' spelling, but this thing is all over the web. What's up with that?
My guess is that they're using it because I think you have to use a trademark in order to be able to defend it. But that's just a completely random guess off the top of my head.
Don't know if they've trademarked the Goooooooogle name with all the extra 'o's, but since that's what shows up at the bottom of the SERPs to let you navigate to the next page, they very well could've trademarked, or want to.