Why is the overthrow of King James II known as "The Glorious Revolution"?

The revolution was glorious in the sense that it was carried out with virtually no bloodshed and relatively few shots fired in anger. The uprising against King James II had been well-planned, and thanks to his unpopularity, it wasn't too difficult to find many nobles and other important political figures to participate in his overthrow. James, though a foolish man in many respects, was wise enough to realize the game was up and therefore pointless to make a last stand against the vast forces ranged against him. (At least for now; James would attempt an unsuccessful comeback a year later at the Battle of the Boyne).
It's well-said that history is written by the victors. And the victors of this particular constitutional and political conflict capped their triumph by christening it "The Glorious Revolution." For those who participated in James's overthrow, that may well have been true. But for countless others in the British Isles, most notably Irish Catholics, the revolution was nothing short of a disaster, leading to increased persecution and repression.