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Commonly used wherever people get online -- including IMing, SMSing, cell phones, Blackberries, PDAs, Web sites, games, newsgroup postings, in chat rooms, on blogs, or on social media -- these abbreviations are used by people around the world to communicate with each other.
Net Lingo is also tracking a global list of worldwide text terms and international online jargon!
Acronyms have always been an integral part of computer culture, and they have since spawned a new language on the Internet.
The majority of the expressions you see above are not acronyms, but rather shorthand used while text messaging or IMing.
There are several terms to describe different kinds of jargon including anacronym, backronym, weather acronyms, city acronyms, leetspeak and textonyms.
BTW: If you ever see someone TYPING AN ENTIRE SENTENCE IN ALL CAPITAL LETTERS that means SHOUTING!
It is not proper netiquette to TYPE IN ALL CAPS (even in email), in fact, it's annoying.
Commonly thought of as a series of letters that make up a 'word' there is a distinction between acronyms and shorthand.
The actual definition of an acronym and text shorthand is here.