with "0"s, not "o"s, it's l33t. And l00t is therefore useful and/or valuable and/or interesting hacked information of some kind, or a good weapon/powerup in a game.
W00T! Th1$ gu4rd h4d $0m3 w1(k3d l00t! Ultr4 ph4$0r!
by Darkshadow November 02, 2004
Stolen or pillaged valuables.
his corpse had some sweet l00t.
by ronley January 30, 2003