I have tried using the online Chinese-English dictionaries with no real results.
"Fu" is usually translated as "work, skill, effort". Manchu of course was the foreign Dynasty that ruled China until the beginning of the 20th Century.
But why would Sax Rohmer's famous supercriminal have taken this nom de guerre? We're told that it is not his real name, but if he was a Chinese mandarin hoping to restore Chinese rule, what possible reason would there be to take the name Manchu?!
My guess is that it could be translated as "Anti-Manchu" or "Manchu-Destroyer" and my hope is that some more enlightened multilingual Straight Doper can give me an answer.