It turns out that Squall's Renzokuken limit break actually derives its name from a mostly forgotten martial art. The word can be litteraly translated as either "continuous fist fighting" or "continuous sword fighting" which explains why Squall's limit is a huge seires of attacks. You can read more about it along with an interview with one of its practitioners in the issue of Black Belt magazine currently available in newstands.

Unfortunately for martial arts fans, it doesn't appear to offer anything terribly unique.