What does the name Distillate refer to? TIA

A distillate is the end product after distillation in an alembic. The Distillate bass was the first bass we made that didn't have single coil pickups, so mom felt it was sort of a distillation of the original concepts.

Was that the answer you were looking for, or did you want to know what features of an instrument go with the name?  If the latter, info on the electronics is here:
 
http://club.alembicguitars.net/Images/16271/24726.html?1138816475
 
Other than the electronics, the body tends to be a bit thinner than most other Alembics and the necks had purpleheart stringers as a standard feature unlike the Spoiler and Persuader fours of that era which had only maple in the neck.