Awesome, I'm glad that there is some story behind it. I was afraid that there wasn't, and if that were the case, I'd have been sad. As far as ludacris things are concerned, I certainly don't mind them. Things like this just make me sit back and think "WOW...", it has an epic feeling to it.
Unfortunately, I didn't get to learn much about the Elysium through my Jedi Knight class quests, and I didn't explore much of the planet in the way of side quests. Although, I do think that the Jedi Sage gets involved with the Elysium at some point?