It's misleading to say that zetsubou (絶望) is a pun with or can be read the same as Itoshiki Nozomu's name (糸色望). Though the first kanji of zetsubou is the first two of his name pushed together, there is no way to accidentally misread it, especially written vertically like this.

yaranaika?

Ok, deleted the translator's note, my bad.

Best "I am L" joke I've seen in a long, long time.

lol edit straight from the manga.