I never heard of this name, but google shows it easily. The problem is that I can't find it written in a script which preserves the Sanskrit consonants more or less faithfully (I did not try all the Brahmi derived scripts, but the name seems concentrated in the South and Tamil is not going to be good for this purpose), so I do not quite know the spelling. The following is a guess.
In Sanskrit, shankha means, and is cognate with, conch. It also means other hard objects like the forehead, fanged reptiles like snakes and alligators, and is the name for a number of mythological characters, usually demonical. The element Isha, from Ish, to possess, means master. In the sense of conch, shankha is most associated with Vishnu, the protector amongst the Hindu trinity. But, shankha also refers to a mythical treasure possessed by Kubera, the demigod of wealth, and shakhesha (the -a is not pronounced) could refer either to him or one of his underlings as well. And finally since one of the senses extends to snakes which are associated with Shiva, the destroyer, it could also mean that.