You never know, Fenric could be a Doctor Who reference. (not likely, but you know how geeky some of these game devs can be).
About the Mythology:
Fenris was one of the three children of Loki in Norse mythology. The other two were Jormungandr, the World Serpent and Hel, Queen of the Dead. Fenris was a giant wolf who could not be slain. He started out as a little wolf pup, but kept getting bigger and bigger and more dangerous. Eventually, the gods decided to chain him up when he ate Tyr's arm. They tried the biggest and strongest chains they could find, but Fenris kept breaking them. The gods turned to the dwarves for help (the same ones who made Odin's spear and Thor's hammer) and the dwarves presented them with a single golden thread. The thread was made of incedibly powerful magical ingredients, and the gods were able to trick Fenris into tangling himself up in it, trapping him until ragnarok, when he is meant to be released.
Not really sute what bearing that has on the Dark Wheel, but many of the systems in the bubble are named after gods, Norse or otherwise.
You can read more about Fenris in any good Norse mythology book, I prefer the one by Neil Gaiman.
