trust me, i had this argument before and i lost, that's why i say xehanort
...
It's clearly "another."
This shouldn't even be a debate. I don't know how you get "xehanort" out of that.
Anyway, we shouldn't have a double standard here.
If it applies to one Xehanort, it should apply to another.
I know that "another" probably refers to the fact that Terranort is "another Xehanort (the first being Master Xehanort), but it irks me knowing that, since Xehanort has an anagram for "another" no matter which Xehanort we're talking about, it ought to apply to Master Xehanort as well.
As for "No Heart," who knows. Perhaps it refers to MX's non-literal "heartless" (ie cruel) nature, but that's a pretty unsatisfying explanation. And I don't think Nomura would have thrown it out the window either. After all, since Xehanort's name came about as an anagram of "no heart," then he must have had this "no heart" idea in mind since day one. And if it's important enough to be in the name of the character, that shouldn't be something so easily thrown out.
So if it hasn't been thrown out... then, what?
Just a hunch, but the answer may lie even further in the past. Given that we've caught glimpses of MX when he was younger, perhaps it revolves around that time period.