I think Python is a good name because although it's arbitrary, there's very little domain overlap that could cause confusion: context can pretty much always tell you whether people are referring to the language or the animal.

Latino, on the other hand, seems to have a little more overlap: it's very close to Latin, an actual language, and also refers to the latinoamericano cultural identity, which is largely defined in relation to language. Thus the possibilities for confusion seem a bit greater (I think OP's suggestion of "hispanohablantes" would also cause a lot of confusion).