Saturated Boolean algebras in terms of model theory and in terms of partitions
Solution 1:
As far as I know, there is no connection; it's just an unfortunate clash of terminology. It's especially unfortunate because the model-theoretic notion of saturation comes up in the theory of Boolean algebras. For example, the Boolean algebra of subsets of the natural numbers modulo finite sets is $\aleph_1$-saturated but (by a definitely non-trivial result of Hausdorff) not $\aleph_2$-saturated, in the model-theoretic sense, even if the cardinality of the continuum is large.
When (complete) Boolean algebras are used in connection with forcing, it is customary to say "$\kappa$-chain condition" instead of "$\kappa$-saturated" in the antichain sense.