Much is explained by looking at the polar equation of the spiral:
Here, $\alpha$ is the constant angle any tangent to the curve makes with the radius vector (a line segment joining the origin and the point of tangency). This explains the adjective equiangular (the verification of this property from the defining equation is left as an exercise). As an aside, insects flying towards a point light source like a candle or a light bulb follow the path of an equiangular spiral, since the usual strategy of an insect flying at the daytime to get their bearing is to fly at a constant angle from the sun's rays, and this strategy works against them when encountering man-made light.
Now, suppose we have an arithmetic progression of angles $\theta,\theta+\Delta\theta,\theta+2\Delta\theta,\dots$; if we get the corresponding values of the radius vector using the defining equation for the logarithmic spiral (geometrically speaking, this corresponds to a clockwise rotation by $0,\Delta\theta,2\Delta\theta,\dots$ radians), we get
which can be re-expressed as
which as you can see is a geometric progression; that is to say, the logarithms of the members of this sequence form an arithmetic progression. This is where the logarithmic adjective arises from.