"My only concern is that whatever terms replace it are both correct and don't coopt a technical term used for similar, but different, purposes, thus causing confusion."
The thing is, master and slave have an accepted meaning and are (or have been) used extensively in many situations for many, many years. What is happening now is that master and slave are being replaced by everyones own idea of some new, vaguely similar terms instead of looking at what other have done re-using the same new terms. Everyone deciding to change from master/slave is inventing their own wheel. Meanwhile, marketing have probably set up a committee to consider what colour it should be.