The l33t sp34k word w00t has two possible meanings, depending on where you come from and how you want to use it.
w00t (?), pron., a., & adv.
l337 for What.
w00t r j00 talking about, d00d?
w00t is dis suppozed 2 mean?
w00t a kewl proggie that is
w00t (?), n.
An expression of enthusiasm/agreement. Sometimes used as an answer like bah or cool.
-This flick has some full frontal nudity
-w00t.
-Lesbians! Monkeys! Soy!
-w00t.
w00t (?), n.
An acronym that means "We Own the Other Team," used to celebrate victory in a video game*.
© l337, 2002
* Suggested on Microsoft's document "A parent's primer to computer slang":
http://www.microsoft.com/athome/security/children/kidtalk.mspx