This post will be edited and grow as time goes on. If it's missing something that you think needs added please leave a comment.
Common Abbreviations:
ACE - American Coaster Enthusiasts (coaster club)
AF1 - Aeire Force One (at Fun Spot Atlanta)
ARB - Anti-Rollback Device
AT - Alton Towers
B&M - Bolliger and Mabillard (manufacturer)
BGW - Busch Gardens Williamsburg
BGT - Busch Garden Tampa
CF - Cedar Fair (corporate)
CP - Cedar Point
CW - Canada's Wonderland (sometimes Carowinds)
DW - Dollywood
ERT - Exclusive Ride Time
Gs - Forces (multiple of normal weight)
GP - General Public
HP - Hersheypark
IoA - Universal's Islands of Adventure
KBF - Knott's Berry Farm
KD - Kings Dominion
KI - Kings Island
KK - Kentucky Kingdom
KW - Kennywood
LIM - Linear Induction Motor (a type of launch, mostly replaced by LSM)
LoCoSuMo - Lost Coaster of Superstition Mountain (at Indian Beach)
LRotN - Last Ride of the Night (sometimes followed by o for on followed by a ride)
LSM - Linear Synchronous Motor (a type of launch, newer version of LIM)
MCBR - Mid Course Brake Run
MF - Millenium Force (at Cedar Point)
OTSR - Over the Shoulder Restraint
SBNO - Standing But Not Operating
SDC - Silver Dollar City
SEAS - Sea World (corporate, encompassing Busch Gardens as well)
SF - Six Flags
SFA - Six Flags America
SFDK - Six Flags Discovery Kingdom
SFDL - Six Flags Darien Lake
SFFC - Six Flags Frontier City (rarely used, sometimes without SF)
SFFT - Six Flags Fiesta Texas
SFGAd - Six Flags Great Adventure
SFGAm - Six Flags Great America
SFGE - Six Flags Great Escape
SFMM - Six Flags Magic Mountain
SFNE - Six Flags New England
SFoG - Six Flags Over Georgia
SFoT - Six Flags Over Texas
SFSL - Six Flags St. Louis
SteVe - Steel Vengeance (at Cedar Point)
SWO - Sea World Orlando (rarely can mean Sea World Ohio, defunct)
SWSA - Sea World San Antonio
SWSD - Sea World San Diego
TTD - Top Thrill Dragster
USF - Universal Studios Florida
USH - Universal Studios Hollywood
UOR - Universal Orlando Resort
VC - VelociCoaster
WDW - Walt Disney World (Florida)
Terminology:
Block Brake - A brake that separates block zones, sometimes inactive unless needed
Block Zone - A section of track that only a single ride vehicle is allowed to be in at a time. Safety system to avoid collisions.
Giga - A coaster with a drop between 300 and 399ft^1^
Hyper - A coaster with a drop between 200 and 299ft^1^
Mega - A coaster with a drop between 100 and 199ft^1^
Strata - A coaster with a drop between 400 and 499ft^1^
Trim Brake - (Sometimes just "trim") A brake system that is designed to slow trains to a specified speed. Often inactive if the train is already going less than that speed.
^1^ For Hyper, Giga, etc, this generally excludes shuttle coasters that may not traverse the entire drop height. Additionally, if a coaster height is in the range and the drop is very close to the same an exception is made (ie. Magnum XL-200). Opinions on this can vary.