To me, they're just acronyms, nothing more. When I grew up, it was Every Good Boy Does Fine. For bass clef, I did Good Boys Do Fine Always. FACE for treble spaces, and ACE-G for bass spaces. So to answer your question, I have no idea, but thanks to taking me back to my primary school days!
A judgment you are asked to make a personal decision about a works success or lack of success. you can also offer good reasons to support your judgment.