I retract my response and agree with yytz.
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Modern Orthodoxy is called Modern because it deals with how halacha applies in the modern world – where the Shulchan Aruch and Mishna Brurah don’t tell us what to do, because the circumstances didn’t exist yet at those times. Jews going out to work and learning in the evenings, or going to a gemara (daf yomi?) shiur early in the morning, is how it was done for centuries.
That explanation is about as accurate–but has about has elegant a flow–as saying that Conservative Judaism is called that because they believe in conservative politics.