I believe this title was given for its multiple meanings, which is why the word "Revolutions" is plural in the title:
There are two revolutions (conflicts) that are going on: the humans' revolution against the machines (including Neo's role) and Smith's revolutions against all lifeforms, whether human or machine. The Oracle seems to be involved in her own revolution against machines in the way that she forces change that machines such as the Architect never would have agreed to.
There have been revolutions (as in "cycles") that the Matrix itself has been going through for several hundred years according to the Architect, as measured by the appearance of each One like Neo. The end of the third movie seems to give us a full sense of another cycle of the Matrix, even though this particular cycle is much different than the others as Neo (and the Oracle) produce major changes in the system. Thus, at the end of the movie, we've reached a very special "revolution" of the Matrix.
A third meaning could be a play on words: Matrix Re-Evolution. Clearly machines have already evolved to something worthy of calling life, taking many giant leaps forward along the way that allowed machines to better understand humans each time. But to be able to understand and accept human irrationality to the point where a machine exercises irrational faith/belief herself, might be the most significant step so far in the machines' evolution process - the step that ultimately allows machines to "be human." Even if the play on words was not intended by the Wachowskis, the word revolution can also refer to thriving enlightenment, as in the industrial revolution.
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 Movie Titles: The Matrix Reloaded |  Movie Titles: The Matrix Resurrections |