There is an NPC by the name of Sar'this located in the biggest house near the lake. He is part of the Netherwing Faction Quest Line. This area (along with the Lake Ere'Noru and Blackwind Lake subzones in Terokkar Forest) is one of the only three bodies of water where you may find Highland Mixed Schools, from which you may catch [Mr. Pinchy]. The name of the lake is a reference to the Skyrealms of Jorune pen-and-paper roleplaying game from the '80s and early '90s.