Mellon, who played for the Seasiders in the mid-nineties, was one of the early names linked with the Bloomfield Road post following Ian Holloway's departure.
Portsmouth boss Michael Appleton is now the bookmakers' favourite and Mellon believes the mention of his own name is the latest demonstration that the Cod Army are acquitting themselves superbly in their debut season as a Football League club.
"It's great for people to say that you could go to jobs like that because that must mean that the players and myself are doing something right," the 40-year-old Scot told Sky Sports News ahead of Fleetwood's League Two clash with Rotherham on Tuesday night.
"But I'm focused on what I'm doing here at Fleetwood Town and until my chairman calls me up and tells me otherwise there's not an awful lot I can do about anything.
"I'm looking forward to a fantastic game against Rotherham."