I asked Phil Chapman, one of the record's producers, about Little Nell's See You Round Like A Record. He confirms that co-producer Brian Thomson, a notable Australian stage designer, came up with the title and it was indeed based on the catchphrase of an Australian disc jockey.
The three producers met while working on The Rocky Horror Show in London: as I noted below, Little Nell was a cast member. The team cut a series of singles with Nell in the second half of the 70s.
Little Nell's round record