After years of referring to the new movies timeline as Star Trek 2.0 (my term), JJ-verse, Abramsverse, and more, CBS Entertainment has now approved an official name as the "Kelvin Timeline". The name comes from the Kelvin which was the ship that was destroyed in the opening sequence of Star Trek (2009) that is the divergence point for the alternative timeline used in the Star Trek films. The official name became known due to the announcement of a new update to Star Trek: Online that will allow players to explore the Kelvin Timeline.
CBS Consumer Products' Holly Amos (whose twitter timeline shows a deep love of Trek) also provided an explanation saying "we needed an in-universe term since we needed some way to refer to it in the encyclopedia." The name choice came from long time Star Trek consultants Mike and Denise Okuda who said they "thought long and hard about that one." The Okudas' influence and knowledge of all things Star Trek is not to be underestimated and have worked on around the last 25+ years of Star Trek TV series, movies, books, and products. While "Timeline" is more accurate, I would not be surprised if fans modify it to "Kelvin Universe" to match the "Mirror Universe" (the one with the evil version of our favorite characters) and the "Prime Universe" (aka the one all the TV series are in). At the very least its nice to have an official common phrase that everyone can us.