When the mythic volcano Garita erupted, wizards feared the end of the world. Luckily the only thing that emerged from those ash clouds were these incredible dragons. Be careful with teething young Apocalypse dragons as they love to gnaw on wizard footwear. You wouldn't want one to swallow your sole.
The description mentions "the mythic volcano Garita". This is likely a reference to La Garita Caldera, once thought to be the largest volcanic eruption in the history of the Earth.
The description mentions "You wouldn't want one to swallow your sole". This is likely a reference to how the Ouroboros will swallow the Sun.
It could also be a play on words, referencing how some mythical beast from ancient legends would swallow your soul.
This dragon refers in various ways to events predicted to occur on December 21, 2012, which is said to be the date the recording of the ending of a Mayan calendar cycle:
The description states "...feared the end of the world."
The dragon's name, Apocalypse, is often used to describe the end of the world.
The selling price and experience earned of 122,112 likely relate to the myth that the world was going to end on 12/21/12.
The elements required to breed this dragon are the opposite/remaining set to those which are required in order to produce a Panlong Dragon, which has an element set matching the elements which are believed in some cultures to make up the Earth, therefore the Apocalypse Dragon has an element set which is the opposite of the Earth itself, a potential reference to the Apocalypse supposedly being the end of the Earth.
Most of the automated names for this dragon have references, including Armageddon which is what some people call the end of the world. Another example is the name Kukulkan, also known as Quetzalcoatl, which is the name of a Mayan God.