You don't have to refer to PA in the name of the station,
and i doubt its illigal to talk 2 the community about how things are going etc... or about the game even
Why not call ur radio station: Manipulate On Air, Planet Igloo or The Core
or something else crappy... or have a vote on the forum about the radio stations name..
That's also free PR
The idea is good enough to try it out for a while...
[edit] I usually post on a dutch forum and they also broadcast once a week, with interviews and stuff.. its quite cool..
but I doubt u guys can manage to do that every night tho..