Hi. Good point I think. Maybe I have to rename the app. The gameboy is quite limited hardware and chord can only play monophonic sounds. So it plays chords in a sense you can pick chords on a guitar.
Well chords in chiptune music are traditionally rendered as very fast arpeggios, so the name is not really wrong, all the contrary. I don't think you have to change the name. I was more wondering if aside from playing arpeggios one could also play actual chords like you'd do on a piano.
Actually applications like Nanoloop or LSDJ let you do that by using for example the L and R channel and just having two (or three if you use the custom wave channel too) notes play at the same time. But it's not a deal breaker, it can be a choice to focus on just the arpeggios.
Chords with L and R? I think you mean pulse 1 and pulse 2. With the use of all three channels excluding the noise channel, true three note chords wouldn't be too hard. Just set the pulse widths to match your square wave sample. So yeah, just to reiterate what you said. 
Medium cool maybe. No but seriuosly this is something I have been thinking about. When I started the project my first thought was to build my own arduino midi interface, but then I realised some people had already done it. Now I am kind of hoping that nanoloop Oliver will get his midi interfaces back in stock. Otherwise I might have to look into building an arduino boy. Once I have that I am hoping it will not be too difficult to reverse engineer the protocol it is using.