On an MVP mailing list today, someone posted this link:

A parent's primer to computer slang
Understand how your kids communicate online to help protect them http://www.microsoft.com/athome/security/children/kidtalk.mspx

To which I replied:
... I just felt a disturbance in the force, as if millions of kiddies yelled out in embarrassment as their parents tried to talk leet to them...

M0M [133t!]: d00d, did j00 |-|4/\3 phun 4t sk00l t0d4yz? $c13nc3 is teh

r0x0rs, w00t! D4D 4nd I R g0ing 0ut ToNiGHT, g0nn4 sh0z /\/\y m4d

sk1llz. Th3r3's ph00d in da phridg3.

Son: I'm so embarrassed. Never talk that way again, please.

 I'm surprised they didn't have some sample conversations to test your knowledge. They also left out "r00t".

Steve adds: And M$

Hmm, I wonder, maybe MS will start doing a whole series on slang? Maybe they're working on a paper like that right now? “What does it mean when your son says 'Her? The whole shool's had root access.'”