Srila Prabhupada explains the meaning of Name Madhudvisa Dasa.

Madhudvisa : He said, "Your name is Madhudvisa das." The way he said it, it became genuine. When he said, "Madhudvisa das," everybody said, "Wow, Madhudvisa das? What does that mean? Who is that? What did he say?" Then I forgot my name right away. Although I heard him say it clearly, I forgot it. Later on I asked Prabhupada what the name meant. He said, "'Dvisa' means to be envious and 'Madhu' is a great demon. So 'Madhudvisa das' means one who is envious of Madhu." I said, "Prabhupada, how can Krishna be envious of anyone?" Prabhupada said, "No. Krishna can be envious too. Madhu was such a great demon that He became envious of him and cut his head off. He annihilated the Madhu demon. Anything is possible for Krishna, any emotion in its perfect form."