25 Internet and Texting Slang Terms All Parents Should Know:

ASL(R P)	Age Sex Location (Race / Picture)
BF / GF	Boyfriend / Girlfriend
BRB	Be Right Back
CD9	Code 9 - means parents are around
GNOC	Get Naked on Cam (webcam)
GTG	Got to Go
IDK	I don't know
(L)MIRL	(Lets) meet in real life
LOL	Laugh Out Loud
MorF	Male or Female
MOS	Mom Over Shoulder
NIFOC	Naked in Front of Computer
Noob	Newbie - often an insult to somebody who doesn't know much about something.
NMU	Not much, you?
P911	Parent Emergency
PAW	Parents are Watching
PIR	Parent In Room
POS	Parent Over Shoulder
PRON	Porn
PRW	Parents Are Watching
S2R	Send To Recieve (pictures)
TDTM	Talk Dirty To Me
Warez	Pirated Software
W/E	Whatever
WTF	What the F***?

noslang.com has a great resource for translating or looking up these words.