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buzzcronym 

A portmanteau word formed from "buzzword" and "acronym".

A buzzcronym is an acronym (word formed from the initial letters of a phrase) that is used as a buzzword (a word with obscure meaning used to impress the listener.)
Richard suggested using more buzzcronyms in our report.
buzzcronym by ddbbpp July 8, 2009
Related Words

buzzchords 

A modification of buzzing or buzzin whereby you remove the last three or two letters, and add chords (nothing to do with chords)

It can be used to refer to something good, or very good, basically.
"Man, this rave is buzzchords"

"Let's get drunk, it'll be total buzzchords"
buzzchords by Jack Stoker October 17, 2007