The faux definitions of contemporary tropes from the Tumblr blog ‘That's What That Means’ are right on the money when it comes to the vagueness of much modern language.
Facetiousness has always been an aspect of human interaction to some degree. Still, words are not necessarily perennial things -- they come and go like leaves on a tree. This is why nobody says, "How art thou?" anymore. For instance, younger people today often use the greeting, "Sup?" This is a particularly telling word when it comes to modern interaction; it is simple, informal, direct and non-committal. That last feature—non-committal—seems to be a common theme throughout the That's What That Means definitions.
The definitions study terms convey a subtle sense of sarcasm. For instance, texting is defined as a "modern romance at its best," by the site.
Faux Word Definitions
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Sassy Public Service Signs (UPDATE)
Parent Texting Blogs
Interpretive SMS Infographics