Johannes Hoops mentions that the names could be corruptions of the names for the Sami. Some Germanic roots for beef and deer are similar to the names (ochs) (uksos) and this could relate to them being warriors who wore animal skins. This theory comes from the Real Lexicon of Germanic Antiquity by Johannes Hoops, Hoops was a professor from Germany who began the writing of the Lexicon which continues to this day by various authors.

On the other hand, others seem to link the Hellusii to the Hilleviones in Scandinavia :

"Der name Hellusii, offenbar zum Stamme des alten skandischen Namens Hilleviones, zu hella, gehorig, bezeichnet, Felsenbewohner, in diesser nordliehen Lage ohne Zweifel die Bewohner der eissigen Felsgebirge der Kiolen und folglich die spateren Seridefinnen, die geschiekten Kletterer auf jenen Hohen, neben welchen Kwenen vom Tieflande am botnisschen Busen genannt werden, die Oxiones des Tawird es weniger klar und sicher; doch war schon bis hieher, wo noch bis in spate Jahrhunderte dunkles Fabelland lag, die Kunde der Alten vorgedrungen."

translated (albeit poorly):

"The name Hellusii, evidently from the tribe of the old Scandic name Hilleviones, belonging to hella [?], denotes, rock dwellers, in this northern location undoubtedly the inhabitants of the icy rocky mountains of the Kiolen [a region of Norway] and consequently the later Seridefinnen [from what I have seen these are some ancient Finnish tribe], the skilled climbers on those heights, next to which Kwenen [?] of the lowlands on the Botnisian [?] bosom are called, the Oxiones of Ta [?] it becomes less clear and certain; yet the old people's news had already reached this point, where dark fabled land still lay until late centuries."

- The Germans and the neighboring tribes by Johann Kaspar Zeuss

Johann Zeuss was well known for showing that Celtic was an Indo-European language