"Climb" for me is slightly weaker because if the name were meant to be descriptive then "Rise/Rising Hazard" or especially "Jump Hazard" might have been more likely, although the only basis I have for this is a gut feeling.
One of the comments on the Japanese FF wiki makes a circular reference to the English to make the claim that neither crime nor climb is the origin, so it's safe to say that at least some Japanese gamers out there are just as confused by the name as we are, which isn't a good sign.
You're right. The original name in Japanese is nonsensical, which means choosing
climb vs.
crime, or vice versa, is completely arbitrary.
That being said, another reason one might consider
climb over
crime is the nomenclature of Cloud's Limit Breaks in general - each one is more or less a literal description of the physical action/motion:
Braver/Brave Slash (FFT): Self-explanatory. It takes a lot of balls to run up to an enemy and raise your sword overhead, leaving your torso completely open to attack, while you prepare to deliver a crushing blow.
Curse Slash: A rune/kanji that cuts into the enemy, causing Paralysis.
Rending Light: A light/beam projectile that splinters into smaller, secondary projectiles.
Meteorain: Raining meteors. 'Nuff said.
Finishing Touch: A vortex that causes insta-Death to most enemies, literally
finishing them.
Omnislash: Omni =
all or
every, which is appropriate as this move hits the enemy with every type of slash conceivable. (Interestingly, the Japanese name for this Limit Break literally translates to "Super Ultimate Martial God Supreme Slash", which is just as appropriate.)
Bottom line, in the context of all the other Limit Breaks,
Climb Hazard (or some derivative of that) is the only name that fits.