This means with love, because the w/ means with and v looks like a heart squished together, if you look closely. Usually used in emails or text messages.
The backwards way to spell the phonetic alphabet is not the way it is listed originally. They have interjected an additional ghi into the correct way of spelling it which is
z y x w v u t s r q p o n m l k j i h g f e d c b a
And not
z y x w c u t s r q p o n m l k j i h g f e d c b a
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Basically the thing that comes out whenever you copy and paste the upper tab of the Urban Dictionary site.
Urban Dictionary
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