SQL by itself is (or can be) pronounced as "sequel".
Therefore it seems logical that SQLite is pronounces "sequelite".
Edit: According to your edit the creator of SQLite pronounces it as "Ess-Cue-El-Eye". I don't think that's how he actually pronounces it, he's just talking fast and sloppy. He pronounces it (in my ears at least) as "Ess-Cue-El-ite". And later in that presentation he explicitly says that he doesn't care how you pronounce it.