Two Water Eatons, not to mention a Water Orton could be very confusing to the unwary!
However, the station is not actually in Kidlington (though calling it a "Parkway" does suggest it is some way from its namesake). 'North Oxford Parkway' is perhaps a better name - I'd also hope that Kidlington could regain a station on the Banbury line at some point. It always seems a bit odd that (disputably) England's largest village lost its station when places like Heyford and Tackley retained theirs.
As noted further up the thread, there are other parkways, like Didcot, in the middle of towns, so the word can mean pretty much anything these days. North Oxford Parkway is definitely a better and more honest name than Oxford Parkway but why on earth you wouldn't also acknowledge it is on the doorstep of a community of 17,000 people beats me.
Unless Oxfordshire County Council wins the lottery, there is zero chance of the station on the Banbury line reopening and the only trains that would call would be the patchy FGW service to Banbury, so not a whole lot of use anyway.
The reason the station closed is because Kidlington has lots of buses to and from Oxford, which can also serve the sprawl that is Kidlington rather better than a single station. All the other intermediate stations to Banbury lie off the main road and/or are the other side of the River Cherwell, so bus replacement was nigh on impossible. For similar reasons the Oxfordshire halts on the Cotswold Line stayed open, as the roads are no great shakes in the Evenlode Valley either, while their counterparts further up the line in Worcestershire, where the road alternatives were more straightforward, were all culled.