{NOUN} This is a term for a person who is considered to have 'loose' morals. A person who sleeps around or gets off with lots of people in pubs and clubs. Maybe even a person who dresses inappropriately.
Friend #1: Jeez Louise!! Did you see that absolute Valve?
Friend #2: Yeah! If that top was any lower we could've seen her belly button.
The fact that Valve (Game creators) can't count to three but can to 4,5,6 etc. popularized by the fact that the third Half-Life game wasn't Half-Life 3 but Half-Life 2:Episode 1
John:Hey! Can't wait till Portal 3 comes out!
Jack:Umm... Valve can't count to three, idiot.
John: Oh! Then let's wait for Portal 2: The Sequel.
A sniper bot in tf2 that has taken over casual, you can barely join a server without encountering him these days.
It used to crash servers too, although that was fixed a couple of days ago.