"Aught" probable old english contraction of "On(e n)aught" (1/0) or "one oh". Naught = no thing in old English or zero. Therefore "two naught" (2/0) is spoken "two 'aught" and so on.
kcmil means 1000's (K) of (C)ircular (M)ils
Mil means 1/1000 inch
Circular Mil means the area of a circle 1/1000 inch in diameter