Following cesarsuki's article on Surving Your First MMORPG, here is a list on some basic Acronyms used in most of the mmorpg gaming world. I claim no authority on those. Most were found in various sites and i have just edit some to give them a general feeling.

Aggro
–(verb) To aggro means to obtain the attention of the enemy by any means. Sometimes this is done
intentionally (taunting, tanking, shooting) and sometimes unintentionally (stumbling accidentally into
aggro range of the enemy)
-(noun) To have aggro means you have now obtain the attention of the enemy and are now their
primary target.

AoE (Area of Effect)
-(noun) AoE refers to the powers and spells that affect a given area. Usually there is a designated
target and a certain radius of affect. Some AoE effects are instant and some are timed. For timed AoE
effects, an anchor is needed. A common MMORPG AoE powers is fireball where everyone
surrounding the target of the fireball will also get damage.

Alts
-(noun) Alts or Alternatives are other characters that a player may play other than his main character.
Some players love playing different types of characters and attain the MMORPG illness known as
Altaholism.

Altaholic
-(noun) Players with Altaholism.

Anchor
-(noun) The target chosen for AoE timed effect. The AoE effect can be either buffing or debuffing.
Often debuffing powers lasting a period of time are cast on a particular enemy affecting all enemies
around him. That target or the anchor is often kept alive to keep the effect on going. Whereas,
buffing effects are placed on the group’s anchor so that all members surrounding the anchor will
receive the benefits of the buff.

Buff
-(verb) To buff means to cast a spell or power granting the target improved stats temporarily.
Common buffs include increased damage, defense, health, speed and/or other effects.
-(noun) A buff refers to the spell or power that can temporarily increase stats of a target.

Camp
-(noun) A area chosen by your teammates to engage in battle. Camps are chosen based on safety and
by staying outside aggro range.
-(verb) To camp refers to staying in one safe spot in a dangerous area for a long time, sometimes to
kill a particular enemy when it re-spawns.

Con
-(verb) To Con or Consider refers to checking the enemy/NPC/PC stats before engaging. Often by
placing the mouse over the target, a color display will suggest to you if the target is stronger, weaker
or at same fighting level.

DeBuff
-(verb) To debuff means to cast a spell or power cursing the target with decreased stats temporarily.
Common debuffs includes lowering damage output, decreasing defense, health(DoT), speed, and/or
other effects. Opposite of Buff.
-(noun) A debuff refer to the spell or power that can temporarily decrease stats of a target.

DoT
_(noun) DoT or Damage over time refers to an effect, spell or power that will damage a target over
time. A common DoT example would be the power poison which will damage 10 points each second
over 20 second.

DPS
-(noun) DPS or Damage Per Second. Used as an easily way to calculate the amount of damage a
certain character, power, sword can do. Because each power, weapon or other spells have different
action speeds, using DPS allow players to determine the relative damage per second. DPS characters
are those who can do a lot of damage per second.

Farm
-(Verb) To repeatedly gathering resources and killing enemies on a particular area. Once an area is
cleared, new enemies re-spawn and are killed off again to obtain rare loot, money, items, experience
and etc. This is similar to the analogy of farmers growing crop, harvesting them and growing more to
repeat the cycle.

Gank
-(verb) To Gank is when a significantly higher level character or a group of players kill off a single
weaker character in a PvP zone. Since this is done for the amusement of the winning party, it is often
frowned upon.

KS
-(verb) KS or Kill Stealing is the act of killing a enemy that has already been engaged by another
player, possibly receiving loot and experience. If don’t intentionally, it is severely frowned upon by
the MMORPG community.

Leech
-(verb) A term used to be part of a team but not participating in combat while receiving experience
and loot since experience and loot are divided among party members. Since the members fighting are
losing experience to the leech, the practice is often frowned upon.
-(noun) The member that is not participating in combat and leeching experience and loot.

Main Assist
-(noun) The MA is the person in the group or raid that others will target and assist, in hopes to focus
all their attacks on the MA’s single target.

Mob
-(noun) A group of enemy or monsters
-(verb) To be attacked by many monsters at once

Nerf
-(verb)The act of weakening a character class, power, skills, item or other aspect of the game by the
Game designers and developers in the interest of game balance and mechanics.

Newbie/Noobs/Newb/n00b
-(verb) A derogatory term used on a player who is annoying, inexperienced, lack teamwork, or with
little skills.

Ninja
-(verb) The act of stealing loot unfairly out of greed, without giving other party members a chance to
loot or a fair way to decide on the loot. An exposed ninja will often be blacklisted among the
MMORPG community.

Perma-
-(adj) Describing a certain power is almost permanent. When a power recycles and recharges by the
time its effect wears off, that effect in term become permanent since another can be cast after the
effect wears off. Often gamers will find gaming mechanics to make a limited use power (often buffs)
perma-. Permadeath describes the game mechanic where your character get deleted when you die.

Pull
-(verb) A tactic used to draw a single enemy out of a mob so that the engagement in battle does not
draw the attention of the remaining mob.

PuG
-(noun) PuG or Pick Up Group refers to the party of players who have never worked together
before, cooperating now to perform a mission or task. Because no one is familiar with another, PuG
are notoriously known for deaths, ninjas, arguments and failures.

Pwn
-(verb) or “to Own” A MMORPG term used to designating victory over one’s enemy. To be pwned
means to be defeated. Often used as a gentle way to rub in one’s victory and a commonly accepted
term. Many theories are there regarding how the “O” became the “P” in “PWNED.” 

Tank
-(verb) The act of attracting aggro intentionally from mobs and taking the damage from the mob.
Tanking usually requires high defense, a lot of health, and primarily melee abilities.

Train
-(noun/verb) The event or the act of a player who intentionally or unintentionally aggro a group of
enemy and is being chased by a line of that mob much like a train of cars. Generally, this is done in
an attempt to flee the enemy. However, there are times when this is done maliciously to bring nasty
mobs to a group of low level characters camping. Training intentionally is frowned upon and can lead
to expulsion in some MMORPGs. 
Alternative: to Train means to group with people and start getting fast exp while in team.

Common MMORPG Acronymns
1H-One Handed weapon
2H-Two Handed weapon
1HS-One Handed Slash Weapon
2HS-Two Handed Slash Weapon
1HB-One Handed Blunt Weapon
2HB-Two Handed Blunt Weapon
AC-Armor Class
AFK-Away from Keyboard
AoE, AE-Area of Effect
BAF-Bring a Friend
Bio-Biological Break/Bathroom Break
BoE, BoU, BoP-Bind on Equip, Bind on Use, Bind on Pickup
BRB-Be Right Back
BYOG-Bring Your Own Group
DC-Disconnected
Dev-Developer of the Game
DoT-Damage over Time
DPS-Damage per Second
EXP-Experience Point (may find it as XP also)
FFA-Free For All
FTW-For The Win
GM-Game Master (Developer of the Game) or Guild Master
HoT-Heal over Time
HP-Hit Point
KoS-Kill on Sight
KS-Kill Stealing
LFG-Looking For Group-Guild
LFT-Looking For Team
MA-Main Assist
MP-Mana, Magic Point
MT-mistell (sending the wrong message to the wrong person)
NPC-Non Player Character
OOC-Out of Character (meaning out of role playing mode and in real life talk)
OOM-Out of Mana
OOR-Out of Range
OMW-On My Way
PBAE-Point Blank Area Effect
PC-Player Character
PK-Player Killer, Player Killing
PM-Private Message
PST-Please Send Tell
PUG-Pick Up Group
PvE-Player Vs. Environment
PvP-Player vs. Player
Rp-Role Playing
SMAT-Send me a Tell
SP-Skill Point
TS-Tradeskill or Teamspeak
WB-Welcome Back
Woot, W00t-A universal happy gesture or cheer
WT-Wrong Tell (Sending the wrong message to the wrong person)
WTB-want to buy
WTS-want to sell
WTT-Want to trade
XP-Experience Point  (may find it as EXP also)