I can
attest, as a
native Texan, that "dubya" is indeed
two syllables, not
one. It is a bit of a
hick-ism, but it requires much less effort than "Dou-ble-U". (How many times have you gotten
tongue tied saying double-u-double-u-double-u?)
Although I would certainly try not to use "dubya" in everyday/public speech, I am quite fond of "y'all".