Also another version of it in Latin is "el"- meaning god or god's likeness, and "va" meaning goes or going. The meaning of that will be "God's likes goes." or "does God's likeness go?", or "where's God's likeness going?"
I don't think it's old-fashioned sounding, and so what if it was? It's better than the modern crap people are naming their kids these days. Use this name if you like it- although I definitely prefer Alva.