Recently we learnt that cascade term was used wrongly all the time. Spec: http://www.w3.org/TR/2009/CR-CSS2-20090908/cascade.html#cascade
What are you going to do with wrong usage of this term in this website? For example Max uses it here https://en.bem.info/articles/bem-for-small-projects/#bye-bye-cascade-4 And so do I in this article https://en.bem.info/articles/yandex-frontend-dev/ And I guess in many places all over the website.
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I don't think it's a big problem, here's why:
There is "cascade" defined by the spec you linked, and "cascade" as a generic word that means, according to Merriam-Webster, "a fall of water usually from a great height". When used figuratively, this refers to something that happens on many levels, going all the way from top to bottom. I think this fits the "cascade of selectors in CSS" case, too.
What we should do in the future is always note that "cascade" we discuss and "Cascade" as in CSS are different. This means, for example, that my Smashing Magazine article contains an error. Were I writing it now, I would still use the word "cascade" but also mention this difference, to make it clear I'm not referring to the "standard cascade as in W3C spec".