That would only be if it was referring to an actual ladle and it's very unlikely that someone would name a boy after a feminine object. When it is used in reference to an actual person (le louch), it means someone who is shady or suspicious.

Which means Lelouch Lamperouge is a shady red lamp. :P

http://www.wordreference.com/fren/louche <-- when I double-checked, apparently when it refers to the eyes, it's 'cross-eyed'. lol