29L2-86: THE FUTURE-RETRO HERO STORY Image Album

[RomanticScent]

It is suposed to be Monrio Elikone (モンリオ・エリコーネJr.), as it is an alter ego of Kohei Tanaka at the time with the name joke of Enrio Morricone, being him his Junior.
Also.... its here: http://vgmdb.net/artist/15410

[Daemonskald]

Yes, true.

But I reverted back to モンリオ・エリコーネJr. for both Guldeen and Future-Retro Hero entries because there is simply no official romanization that I found on these releases. If you have one, you are more than welcome to provide it!

All I know is that this alias first appeared in Guldeen. Like Compiler, the whole thing is a parody of many genre with tons of private jokes. It's also around that time that Tatsumi Yano shows his love for Star Wars Imperial March (later used again in Iczelion)...

Given the "spaghetti western" type feel of the song on this CD, it is a direct nod to Ennio Morricone, of course, just like you say.
And most probably should be "Erricone" more than "Elikone" as Morricone is written モリコーネ in katakana.

So, for now, alias is kept in katakana as stated in booklets and http://vgmdb.net/artist/15410 might be deleted unless we have an official romanization.