Once I was listening to the Hawkeye Huddle on AM 600 out of Cedar Rapids. Eric Thigpen gave an example of a name of a play that sounded really confusing, which I can't remember at all, but it was something like Foxtrot, 54, Upside, Gamma, Dogbite. The words he used were actually more complex than that, I simply can't remember. But he said each part of the call had to do with a different assignment. I think he said it was a defensive call, so the first part might be for the lineman, the second for the linebackers, etc. I would think it would be similar for the offense.
I've also noticed that wide receivers break huddle earlier than everybody else, so they must only need to know the first half of the call, and obviously don't need to know the snap count, since they just watch when the ball is snapped.