I agree that the name 'wootz' is ridiculous. If it has to be 'something steel' then I'd say 'dwarven steel' (although meteoric steel sounds stronger than dwarven steel… so maybe not. Or just put it between steel and meteoric steel).
But regarding stones, I'd love to have Malachite
in IVAN, since I think IVAN doesn't have any green material yet (besides vomit).