Susie, you're not alone! Here's a thread about them:
http://youlookfab.com/welookfa.....reviations
Some of the more common ones you'll see:
RATE = rough around the edges (a preference for a less polished look)
UWP = urban warrior princess
BBQ = buy buy quick!
ALGO = a lot going on (a maximal style, lots of bells and whistles)
Hope this helps!