Bite the Wax Tadpole

A colleague of mine told me that Coca Cola actually translates as "bite the wax tadpole" in Chinese. I have no reason not to believe him but I tried to confirm this by using Babel Fish. Unfortunately all I got was gibberish.

If true - this is a pretty cool fact to know. Even if it isn't true - Bite the Wax Tadpole would make a pretty cool name for a band or fantasy baseball team.