What is the correct name and significance of EAV table pivot?
The process of pivoting data is often called transposition, as it is similar to the matrix operation of that name in mathematics (http://en.wikipedia.org/wiki/Transpose), though that isn't really what you are doing in your example.

In your output you still have the EAV pattern but stored less efficiently. The columns "Entity, A_Name1, A_Value1" is one attribute in the EAV pattern, "Entity, A_Name2, A_Value2" is another, and so forth. Each of your value columns could contain a range of probably unrelated attribute values so you are not in any sort of normal form and reporting is likely to be even more difficult than the original layout.

A proper transposition in this case would be:

Entity  | Attribute1 | Attribute2 | Attribute2 
----------------------------------------------
Entity1 | Value1     | NULL       | NULL       
Entity2 | Value2     | Value3     | Value4     
Entity3 | Value5     | Value6     | NULL       


This way each column contains data for only one attribute.