with "0"s, not "o"s, it's l33t. And l00t is therefore useful and/or valuable and/or interesting hacked information of some kind, or a good weapon/powerup in a game.
by Darkshadow November 2, 2004
A cross between "lol" and "w00t". A celebratory laugh, if you will. Used when you're celebrating something funny.
by Yoshi X2 September 9, 2005
A World of Warcraft term, meaning awesome items the greatly increase the usefulness of your character.
by Hadranos September 5, 2006