I mean what do the letters stand for? Maybe one day somebody was typing on a forum, they accidentally typed "w00t" and said: "Hey........ I like that word! It's cool! I should celebrate! w00t! w00t! w00t! w00t!"
That's number 2 on my list of goals here:
BiggerSquarierSpongier's List of Goals:
1. Get 1001 posts and earn a custom title.
2. Find out what w00t stands for.