Indeed, "Islam" means submission. They try to say it means "peace", but the only "peace" it represents is the "peace" of the grave, or submission to Islam.
Note that both islam and salem have the same consonants, and thus, in a Semitic language are fundamentally the same word.
The problem lies not so much with the translation of Islam as 'peace', as in a defective concept of peace among Muslims, in which only the peace which follows the cessation of hostilities by a total conquest exists, and the notion of a negotiated peace, or peace as a state of lack of emnity between either equals or friends does not exist.
Peace...Smeace!
I have seen bumpers stickers I couldn't agree with more but I have reservations about sticking one on my car because I am a Christian. It is clever, though.
It reads, "GIVE PEACE A CHANCE. KILL TERRORISTS."