spect: derived from Latin "specere", meaning "look"
-ion: the action of doing something
So expection means:
The action of looking out for.
If you look out for something's coming, it must be what you wish to get. It is equal to expectation.
Evolution of usage
The action of looking out for (something's coming) is the root of most of pains.
The action of expecting is the root of most of pains.
Expection is the root of most of pains.