The term "heel" is most likely derived from a slang usage of the word that first appeared around 1914, meaning "contemptible person."

The terminology and the slang usage of Stovebolt refers to three different things:

In slang usage the term came to be used as an insult.

Related slang usages are mainstream business's 'cut a check', the recording industry's 'cut a record', and the military's 'cut an order'.

This may be related to the contemporary British slang usage, where "bobbins" can be used to denote something negative, particularly in theatrical circles.

A competing publication, The Fluffyadailynooz, has come up with an interesting slang usage unrelated to pronunciation.

The British Army has a rich and diverse history of slang usage; the following links provide more detail on the subject:

Five shillings is a crown, or a 'bull' in slang usage.

The slang usage of the term originated in the 1960s.

Less obvious differences are present in grammar, vocabulary, and slang usage.