Accd. to Wikipedia it depends on what region you live in regarding the use & meaning of the term "Fred". Personally I haven't actually heard anyone use it and I could care less.

I've got kick stand, fenders, rack, bell, handle bar rear view mirror, bike computer, rear view mirror on my helmet, head light and two blinky tail lights! And this is all on my leisure bike!!! I love it and that's all that matters.