I've heard the phrase many times and only ever as I posted. I don't think offense is implied as it is usually used directed to oneself/ones own team. My guess is I came across the phrase before it became watered down. But the principle is the same and no offense is ever implied. My apologies if I have offended anyone.

Whilst hardly gospel, Wikipedia seems to agree with me.

"The KISS principle (acronym for "Keep It Simple, Stupid") states that design simplicity should be a key goal and unnecessary complexity avoided. It serves as a useful principle in a wide array of disciplines, such as software development, animation, engineering, and strategic planning. Common variants of the acronym include: "Keep It Sweet & Simple", and "Keep It Short & Simple". The form "Keep It Simple, Silly" is sometimes used in situations (for example, explaining the phrase to children) where "stupid" may be perceived as being too harsh.

Complexity should be avoided—simplicity is a goal in itself. Extra features are not needed; an approach that seems "too easy to be true" is in fact the best way. A very straightforward approach may seem less glamorous and less dramatic, but the trivial approach should indeed be taken. Surprisingly, the very obvious approach is often the best."

KISS principle - Wikipedia, the free encyclopedia

__________________
Tim