When did "faithful and discreet slave" become a title? It's not a title no more so than the "rich man" in Jesus' parable about the rich man and Lazarus is a title.
Since you're such an expert in English, clearly you realize that Jesus' parable about the rich man or about a group being a faithful slave is descriptive in the Bible. However, the WT capitalizes the pharse Faithful and Discreet Slave in their publications. So, by capitalizing they are making it a title.
As for the generation thing, you certainly put a lot of words out there to attempt to explain such a simple concept. Under your line of reasoning (and the WTS) I am of the same generation as my great grandfather because my life overlapped about 12 years or so with his. He was born in 1890.
Elderelite asks a vaild question. If the fulfillment of Matt 24 was a duel prophesy which had it's first fulfillment in the days leading up to 70 AD which resulted in the destruction of Jerusalem and it's second fulfillment starting in 1914, why doesn't the timeframe match up. Maybe not exactly to the day, but certainly within a similar frame. The fact is that it's been 96 years, more than twice the amount of time. So, either Jesus meant one thing in 33 AD (or CE if you perfer) and something totally different in 1914, or the 1914 date is inaccurate.
Why would Jesus change the meaning of such an easily understood term?