Please consider the following a (hopefully) handy reference for some of the shorthand terms that pop up on the 'berg from time to time. I'll update this post as new words and phrases enter the lexicon.
Ballerina Batman Elseworlds - Refers to the proliferation of lame "Elseworlds" stories where there would be oh-so-cute transplantation of familiar characters into alternative milieu - e.g. Batman would be a ballerina, the Joker a rival dancer etc.
DCU Syndrome - A malady that at times infects writers of DC superhero books. This illness causes the afflicted writer to become obsessively worried that the fans will forget that his/her story is taking place in the DC Universe, and leads him/ her to load a story with unnecessary cameos from other DC heroes, even if including them destroys the story's internal logic. The malady is caused by ingesting too many copies of Who's Who in the DC Universe ("too many" = one), and can be cured with a basic course in creative writing.
Evil Ass-Clown Avengers - Tragically underutilized supporting character Norman Osborn's team of "Dark Avengers"
Fauxbra Commander - Former Crimson Guardsman/ mechanic Fred VII, who once murdered the real Cobra Commander and took his place. Fred VII has an accountant named Raptor who wears wings and trains genetically mutated birds. No one thinks this is strange.
Hank Pym - A Marvel character who sucks so badly that his name has become a generic term for things that suck. A real or imaginary person who does something hopelessly stupid can be said to be "pulling a Hank Pym" or "Hank Pyming".
Nerd Slapfight - Internet wars centered around fictional characters, e.g. which is the "real" Green Lantern.
Ol' Crankypants - What's left of The Artist Formerly Known as John Byrne
Purpose Story - A story designed primarily to set up some other story/ bring about some change in continuity, as opposed to telling a story in its own right. Example.
Skrullnut - The dirty dirty Skrull who replaced my dog Peanut during the Skrull invasion. (The real Peanut has since returned.)
Unwinding - Having carnal relations with.