"Shringara" is one of nine "rasa"s --moods or feelings-- in Indian music/art. This one correlates to peak experiences in general, and more particularly, to eroticism. "Shringa" literally means "peak", and "shringara" means "the way to reach ecstacy."
"Devadasi" used to be temple dancers ("servants of god"), young women who were wedded to the gods and danced as an offering. (See the picture on the cd). Later they essentially became temple prostitutes, as their dancing came to embrace both a spiritual and sexual side. They were banned by the British in the Victorian era, and only recently have they re-appeared, this time mostly as artists in the purely cultural realm.
We chose the name because that one image embodies dance, desire, and the divine. We feel that sexuality and spirituality should not be separate, and dance (and music) allows you to express both in one form.