I don't know if this is a trend starting to pick up or what, but calling yourself something different is nothing new, and I don't find it in any way as denying Christ. Even the early believers were referred to as followers of "the Way" before they were called "Christians" (see Acts).
It's really nothing but a label, and my take on it is most likely it's people wanting to be radical than be stereotyped into a label.
A good example that taught me this was back in college, we had open Bible Studies in the dorms so that anyone can stop by and join in. One time, this guy came across and started asking questions to the Bible Study leader, and the conversation went something as follows (exact wordings no longer remembered):
Visitor: So what are you? What do you believe in?
Leader: I follow Jesus Christ.
Visitor: No, I mean, what are you: Catholic, Presbyterian, Lutheran, etc.?
Leader: I don't belong to any of those groups. I follow Jesus Christ, not a human institution.