Here is a heavily abridged version of the English Wikipedia's SiteMatrix API result, for reference:
{ "sitematrix": { "0": { "code": "de", "name": "Deutsch", "site": [ { "url": "http://de.wikipedia.org", "dbname": "dewiki", "code": "wiki", "sitename": "Wikipedia" } ], "localname": "German" } }
The key "code" appears twice, in two different contexts here.
One is referring to the ISO 639 code of the project's language (de, for German), and the other is referring to the internal database name suffix for the project (wiki).
This is causing a bit of confusion (e.g. on translatewiki.net, where they are trying to decipher the help message)
I'm unsure what our policy is for changing the API output, but it'd certainly be nice to clarify this by renaming the former lang or the latter project_code.
To recreate run a sitematrix query in an API sandbox.