Inspired by the 'explorers know a lot' thread, I thought I might try to knock together a bit of a compendium. Won't claim completeness, I need your help for that 
No offense intended if the descriptions are not 100%
**Update 1 - 22/1/2017** Added more content thanks to the awesome response. Separated out locations.
**Update 2 - 24/1/2017** Updated to here. Updates temporarily in gold highlight
General terms and phrases
2MASS - the 2 micron all-sky survey. In-game, stars from this catalogue tend to be faint and included to "make up the numbers" around star clusters.
Basecamp/Waypoint - A specific location, usually on a planet surface, for regrouping and socialising on expeditions.
BD / CD / CPD - Bonner Durchmusterung, Cordoba Durchmusterung, Cape Photographic Durchmusterung, star catalogues.
Beacon (or Bacon) - A wing beacon. Often used to allow incoming ships to rapidly find a Waypoint, and to improve their chances of getting into the same instance.
BGS - Background Simulation
The blind squirrel method - for finding ELW's, is when you find ELW's without actually doing anything in particular to look for them
The Breadbin - CMDR Braben. Also known as DBOBE, as he's an officer of the Order of the British Empire.
Boxel, Subsector, Sub - Loose words used to define a Subregion of space, linked to the 3 letters within a system name. (ie. SOMESECTOR AA-A d1-123)
Buckyballing - Traveling across the galaxy as fast as possible, aiming for sub 45 seconds jump to new system
Bubblehead - Term used to describe the folks for whom the call of the black is weak or missing
C3E - Colonia Core Circuit Expedition
Carnivore - Explorer who only scans valuable planets and stars - ELWs, WWs, AWs, NSs, and BHs, mainly.
CCC - Christmas Carriers Convoy
CG - Community Goal
Cluster - a group of stars.
CMDR - Commander
Corridor - in-game, star clusters will often take the form of an extended line, a corridor, of stars.
CQC - Close Quarter Combat
CR - Credits
CZ - Conflict Zone
DARK REGION - an in-game term for the sector surrounding a dark nebula.
Dannii - 500ly (half a Kylie, see below)
DSE - Distant Stars Expedition
DWE/DW - Distant Worlds Expedition
ED - Elite Dangerous
EDD - EDDiscovery - a tool to install on your PC that turns your logs into something amazing
EDSM - Elite Dangerous Star Map - was at first a community effort to store and calculate systems coordinates around the Elite: Dangerous galaxy. It is now the main API used by dozens of software and websites to find systems, coordinates, information (governement, allegiance, faction...) and celestial bodies (types, materials...)
Faceplant - Failing to slow down sufficiently when getting close to a body and subsequently getting ripped out of super cruise...with damage of course.
FD - Frontier Development
Fleetcomm - a private group frequented by explorers.
Friendship Drive- the most genial method of interstellar travel currently available. Refers to the way your ships computer charges the FSD - can sound like 'Friendship Drive Charging'. All visitors to part of the forum have a friendship drive
Fuel Rats - Organisation created to offer rescue services to explorers if they run out of fuel and can't get to a scoopable
GalMap - Galaxy Map
GCRV - General Catalogue of Radial Velocities, in-game this often indicates the central star of a planetary nebula.
Goldilocks Zone - the volume around a star in which planets are suitable for habitation, also Hab Zone.
GMP - Galactic Mapping Project
Green System - a system that has all the materials present to create jumponium level 1, 2 and 3 [note system, not body. You will need to land on more than one planet]
HA / HA star / HA sector - used to refer to an object which has been hand-authored - e.g. a "real" star from a catalogue which has been placed in the game. Sometimes also HP, for hand-placed, or cat, for catalogue.
HD - Henry Draper Catalogue
HIP - Hipparcos Catalogue
Honk - Executing a discovery scan - refers to the noise it makes, which can also be heard by those near-by incidentally.
HR - the Bright Star Catalogue, which as you'd expect tends to include particularly bright or close stars. If you can see it in the night sky, it's probably one of these.
IC - Index Catalogue, usually used for clusters and nebulae
IGT - In-game Time
Jonking - jumping/honking - travelling from one place to another as quickly as possible, only stopping to deploy (honk) the ADS in order to journey as quickly as possible. Similar to Buckyballing.
Jumponium - colloquial term for the synthesis of FSD Boost fuel which is synthesised from materials (collected by SRV or mining rings)
Doing a Krollin - performing a sub-optimal landing maneuver, made immortal by CMDR Krollin who did this at one of the base camps during the DWE
Kylie/Kly - 1,000 ly
LHS / LFT / LTT / etc. - Luyten catalogues, stars from these tend to be close to Sol.
Lithobraking - Reducing the velocity of a ship significantly by use of collisions between it and a planet's surface.
LS - Light second
LY - Lightyear
Masscode - A letter within the system name that is used as a mass subdivider, often used to roughly predict what kind of star we're jumping next to. (ie. SOMESECTOR AA-A d1-123)
MLF - Mass Lock Factor
MM - Mega meter, as in 1000km
Miley/Mylie - 1,000,000ly - for when you've gone too far
Neutron Boost - using a neutron star's jets to significantly increase jump range
Neutron-farming - the slightly controversial technique of scanning mass numbers of neutron stars to increase one's Exploration rank.
Neutron Surfing - the act of linking several neutron boosts consecutively, e.g. along the Neutron Highway
NGC - New General Catalogue, usually used for clusters and nebulae
NPC - Non Player Character
Omnivore - Somewhere between a Carnivore and Vegetarian (see below), an explorer who scans valuable planets and stars, as well as any other objects in convenient range.
Outback - the loose sphere of inhabited systems surrounding the Bubble, such as Sothis.
POI - Point of Interest - generic term for anything interesting enough to be worth a second person visiting - nebulae, unusual systems or planets, settlements outside the bubble, and so on. Some of them have official tourist beacons, some don't.
Proc-gen / Proc-gen star / Proc-gen sector - used to refer to an object which has been procedurally generated.
PSR - pulsar.
PvE - Player versus Environment
PvP - Player versus Player
Rares - Refer to commodities that can only be purchased at a specific station, and in very limited quantities. They appear in a bold yellow font on the commodity board. Their value increases with distance from the purchase location (up to around 170ly). Noted here mainly because of Jaques Quinentian Still which is available at Jaques.
RES - Resource Extraction Site
Rifter - a pilot prone to exploring the Rift.
RNG - Random Number Generator
SF - Stellar Forge, the magic engine that creates Elite's universe
Space Crazy/Space Madness - Strange thoughts or behaviours caused by being in space for too long
SRV Elevator - The use of a ship to lift a SRV, either to rescue a stuck one or just to give it a better view
Stranded - Being locked out in a region of space without any exit possibilities
SysMap - System Map
SysName - A system name
Terminator - The exact transitional area between the sunny side and the dark side of a planet.
UC - Universal Cartographics; the place to sell your exploration data
UA - Unknown Artefact
USS - Unidentified Signal Source
Vegan - Explorer who scans EVERYTHING in a given system - ice worlds, gas giants, every possible moon.
Vegetarian - Explorer who scans all planets and stars in a system, but will leave icy and rocky moons alone.
WP - Waypoint
ZR - Zion Ravescene / Zulu Romeo, a noted explorer.
Unobtainuim - a rare, bugged or difficult to acquire item.
Commonly referred to locations
Badlands/Doldrums - the galaxy-spanning plane of unscoopable brown dwarf stars around Y=-50
Beagle Point - Famous location on the far side of the galaxy and the destination meeting point for the Distant Worlds Expedition in January 3302
Brown-dwarf belt (or various similar names, as Badlands and Doldrums suggested above) - a particularly irritating patch of unscoopable stars which lies near the galactic plane, bane of explorers.
BP - Beagle Point, see above
The Black - Space outside the bubble/2nd bubble
The Bubble - area of populated space surrounding Sol
2nd Bubble/New Bubble - area of populated space surrounding Colonia
The core - area of space around Sagittarius A* which is very densely populated with stars - the view is magnificent but routing used to be slow due the sheer volume of possibilities; it was addressed in the 2.3 update I believe
Colonia - System that Jaques Station ended up in during his first attempt to get to Beagle Point. As a result of a significant 'rescue mission' initiated by the explorer community, permanent populations sprung up in this and nearby systems to 'exploit' the resources discovered. May also refer the collective and the EOL Prue nebula in which it's located
Colonia Highway - the chain of six surface resupply bases roughly between Sol and Colonia
Greta - Great Annihilator; a black hole within a nebula nearish Sagittarius A*
Jaques Station - A space station with big engines so it can jump to other systems. Jaques is a barman, a property owner and a cyborg with a plan to take the station across the galaxy.
Neutron Fields - a series of areas surrounding the galactic Core in which stellar remnants are commonplace.
Neutron Highway - a mapped chain of neutron stars allowing extremely rapid travel between two POIs
The Rift / the Formidine Rift - the void between the spiral arms found after the Heart and Soul nebulae, a common destination for explorers.
Sag A*/Sag A/Saggy/SaggyA/Sadge/Sgr A* - Sagittarius A*; the super massive black hole a the centre of the galaxy. The scientific community hold Sgr A* as the 'proper' abbreviation
S171 or NGC 7822 - an especially bright cluster of stars fairly near to Sol, otherwise known as "what are those bright lights over there?"
Sol - The Solar System; the one our 21st century ancestors came from [NB, a permit is required]
Sothis Spur - the line of new Sirius colonies leading out to the aforementioned Sothis.
Planet Body Abbreviations/terms
AW - Ammonia World
BH - Black Hole
CS - Carbon Star
CFT - Candidate for Terraforming [same as TC] - added as pre-fix or suffix to WW, HMC or RW. Bodies that can be terraformed are worth more than 'regular' bodies of the same type.
ELW - Earth-like World
GG - Gas Giant
HMC - High Metal Content World
Kevin Costners - Water Worlds
NS - Neutron Star
RW - Rocky World
Snowball - Icy world
TC - Terraforming Candidate [same as CFT] - added as pre-fix or suffix to WW, HMC or RW. Bodies that can be terraformed are worth more than 'regular' bodies of the same type.
TTS - T Tauri Star
WD - White Dwarf
WR - Wolf-Rayet star
WW - Water World
Ship/Module related
ADS - Advanced Discovery Scanner; locates all bodies in a system [infinite range within a system]
AFMU/AFM - Automated Field-Maintenance Unit; unit that can repair modules but not the power plant or hull (nor a smashed canopy- it will repair cracks though)
Annie - Anaconda
AspX/AspE - Asp Explorer
BDS - Basic Discovery Scanner; ships are fitted with this by default - locates bodies within 500 ls
CM3 - Cobra Mk III
CM4 - Cobra Mk IV
DBS - Diamondback Scout
DBX/DBE - Diamondback Explorer
DC - Docking Computer
DS - Discovery Scanner; assumed to be the ADS
DSS - Detailed Surface Scanner; essentially an 'add-on' to the BDS/IDS/ADS to 'deep scan' a body after targetting it and being within range to reveal additional information such as composition and materials available (if landable)
Exploraconda - an Anaconda fitted for exploration.
e<shipname> - a ship of type <shipname> which has been fitted for exploration, for instance an eClipper is an Imperial Clipper fitted for exploration.
FAS - Federal Assault Ship
FDL - Fer-de-Lance
FDS - Federal Drop Ship
FSD - Frame Shift Drive; The 'engine' that facilitates super cruise and hyperspace jumps. Sometimes referred to as the 'friendship drive'
HRP - Hull Reinforcement Package
HS - Heat Sink
HSL - Heat Sink Launcher
IDS - Intermediate Discovery Scanner; locates bodies within 1000 ls
KWS - Kill Warranty Scanner
MKIII - Cobra Mk III
MKIV - Cobra Mk IV
MRP - Module Reinforcement Pack
SC - Super Cruise
SCB - Shield Cell Bank
SLF - Ship Launched Fighter
SRV - Surface Recon Vehicle
T6 - Type-6 Transporter
T6E - Type-6 Transporter kitted out for exploration
T7 - Type-7 Transporter
T9 - Type-9 Heavy
VIV - Viper Mk. IV
No offense intended if the descriptions are not 100%**Update 1 - 22/1/2017** Added more content thanks to the awesome response. Separated out locations.
**Update 2 - 24/1/2017** Updated to here. Updates temporarily in gold highlight
General terms and phrases
2MASS - the 2 micron all-sky survey. In-game, stars from this catalogue tend to be faint and included to "make up the numbers" around star clusters.
Basecamp/Waypoint - A specific location, usually on a planet surface, for regrouping and socialising on expeditions.
BD / CD / CPD - Bonner Durchmusterung, Cordoba Durchmusterung, Cape Photographic Durchmusterung, star catalogues.
Beacon (or Bacon) - A wing beacon. Often used to allow incoming ships to rapidly find a Waypoint, and to improve their chances of getting into the same instance.
BGS - Background Simulation
The blind squirrel method - for finding ELW's, is when you find ELW's without actually doing anything in particular to look for them
The Breadbin - CMDR Braben. Also known as DBOBE, as he's an officer of the Order of the British Empire.
Boxel, Subsector, Sub - Loose words used to define a Subregion of space, linked to the 3 letters within a system name. (ie. SOMESECTOR AA-A d1-123)
Buckyballing - Traveling across the galaxy as fast as possible, aiming for sub 45 seconds jump to new system
Bubblehead - Term used to describe the folks for whom the call of the black is weak or missing
C3E - Colonia Core Circuit Expedition
Carnivore - Explorer who only scans valuable planets and stars - ELWs, WWs, AWs, NSs, and BHs, mainly.
CCC - Christmas Carriers Convoy
CG - Community Goal
Cluster - a group of stars.
CMDR - Commander
Corridor - in-game, star clusters will often take the form of an extended line, a corridor, of stars.
CQC - Close Quarter Combat
CR - Credits
CZ - Conflict Zone
DARK REGION - an in-game term for the sector surrounding a dark nebula.
Dannii - 500ly (half a Kylie, see below
)DSE - Distant Stars Expedition
DWE/DW - Distant Worlds Expedition
ED - Elite Dangerous
EDD - EDDiscovery - a tool to install on your PC that turns your logs into something amazing
EDSM - Elite Dangerous Star Map - was at first a community effort to store and calculate systems coordinates around the Elite: Dangerous galaxy. It is now the main API used by dozens of software and websites to find systems, coordinates, information (governement, allegiance, faction...) and celestial bodies (types, materials...)
Faceplant - Failing to slow down sufficiently when getting close to a body and subsequently getting ripped out of super cruise...with damage of course.
FD - Frontier Development
Fleetcomm - a private group frequented by explorers.
Friendship Drive- the most genial method of interstellar travel currently available. Refers to the way your ships computer charges the FSD - can sound like 'Friendship Drive Charging'. All visitors to part of the forum have a friendship drive
Fuel Rats - Organisation created to offer rescue services to explorers if they run out of fuel and can't get to a scoopable
GalMap - Galaxy Map
GCRV - General Catalogue of Radial Velocities, in-game this often indicates the central star of a planetary nebula.
Goldilocks Zone - the volume around a star in which planets are suitable for habitation, also Hab Zone.
GMP - Galactic Mapping Project
Green System - a system that has all the materials present to create jumponium level 1, 2 and 3 [note system, not body. You will need to land on more than one planet]
HA / HA star / HA sector - used to refer to an object which has been hand-authored - e.g. a "real" star from a catalogue which has been placed in the game. Sometimes also HP, for hand-placed, or cat, for catalogue.
HD - Henry Draper Catalogue
HIP - Hipparcos Catalogue
Honk - Executing a discovery scan - refers to the noise it makes, which can also be heard by those near-by incidentally.
HR - the Bright Star Catalogue, which as you'd expect tends to include particularly bright or close stars. If you can see it in the night sky, it's probably one of these.
IC - Index Catalogue, usually used for clusters and nebulae
IGT - In-game Time
Jonking - jumping/honking - travelling from one place to another as quickly as possible, only stopping to deploy (honk) the ADS in order to journey as quickly as possible. Similar to Buckyballing.
Jumponium - colloquial term for the synthesis of FSD Boost fuel which is synthesised from materials (collected by SRV or mining rings)
Doing a Krollin - performing a sub-optimal landing maneuver, made immortal by CMDR Krollin who did this at one of the base camps during the DWE
Kylie/Kly - 1,000 ly
LHS / LFT / LTT / etc. - Luyten catalogues, stars from these tend to be close to Sol.
Lithobraking - Reducing the velocity of a ship significantly by use of collisions between it and a planet's surface.
LS - Light second
LY - Lightyear
Masscode - A letter within the system name that is used as a mass subdivider, often used to roughly predict what kind of star we're jumping next to. (ie. SOMESECTOR AA-A d1-123)
MLF - Mass Lock Factor
MM - Mega meter, as in 1000km
Miley/Mylie - 1,000,000ly - for when you've gone too far
Neutron Boost - using a neutron star's jets to significantly increase jump range
Neutron-farming - the slightly controversial technique of scanning mass numbers of neutron stars to increase one's Exploration rank.
Neutron Surfing - the act of linking several neutron boosts consecutively, e.g. along the Neutron Highway
NGC - New General Catalogue, usually used for clusters and nebulae
NPC - Non Player Character
Omnivore - Somewhere between a Carnivore and Vegetarian (see below), an explorer who scans valuable planets and stars, as well as any other objects in convenient range.
Outback - the loose sphere of inhabited systems surrounding the Bubble, such as Sothis.
POI - Point of Interest - generic term for anything interesting enough to be worth a second person visiting - nebulae, unusual systems or planets, settlements outside the bubble, and so on. Some of them have official tourist beacons, some don't.
Proc-gen / Proc-gen star / Proc-gen sector - used to refer to an object which has been procedurally generated.
PSR - pulsar.
PvE - Player versus Environment
PvP - Player versus Player
Rares - Refer to commodities that can only be purchased at a specific station, and in very limited quantities. They appear in a bold yellow font on the commodity board. Their value increases with distance from the purchase location (up to around 170ly). Noted here mainly because of Jaques Quinentian Still which is available at Jaques.
RES - Resource Extraction Site
Rifter - a pilot prone to exploring the Rift.
RNG - Random Number Generator
SF - Stellar Forge, the magic engine that creates Elite's universe
Space Crazy/Space Madness - Strange thoughts or behaviours caused by being in space for too long
SRV Elevator - The use of a ship to lift a SRV, either to rescue a stuck one or just to give it a better view
Stranded - Being locked out in a region of space without any exit possibilities
SysMap - System Map
SysName - A system name
Terminator - The exact transitional area between the sunny side and the dark side of a planet.
UC - Universal Cartographics; the place to sell your exploration data
UA - Unknown Artefact
USS - Unidentified Signal Source
Vegan - Explorer who scans EVERYTHING in a given system - ice worlds, gas giants, every possible moon.
Vegetarian - Explorer who scans all planets and stars in a system, but will leave icy and rocky moons alone.
WP - Waypoint
ZR - Zion Ravescene / Zulu Romeo, a noted explorer.
Unobtainuim - a rare, bugged or difficult to acquire item.
Commonly referred to locations
Badlands/Doldrums - the galaxy-spanning plane of unscoopable brown dwarf stars around Y=-50
Beagle Point - Famous location on the far side of the galaxy and the destination meeting point for the Distant Worlds Expedition in January 3302
Brown-dwarf belt (or various similar names, as Badlands and Doldrums suggested above) - a particularly irritating patch of unscoopable stars which lies near the galactic plane, bane of explorers.
BP - Beagle Point, see above
The Black - Space outside the bubble/2nd bubble
The Bubble - area of populated space surrounding Sol
2nd Bubble/New Bubble - area of populated space surrounding Colonia
The core - area of space around Sagittarius A* which is very densely populated with stars - the view is magnificent but routing used to be slow due the sheer volume of possibilities; it was addressed in the 2.3 update I believe
Colonia - System that Jaques Station ended up in during his first attempt to get to Beagle Point. As a result of a significant 'rescue mission' initiated by the explorer community, permanent populations sprung up in this and nearby systems to 'exploit' the resources discovered. May also refer the collective and the EOL Prue nebula in which it's located
Colonia Highway - the chain of six surface resupply bases roughly between Sol and Colonia
Greta - Great Annihilator; a black hole within a nebula nearish Sagittarius A*
Jaques Station - A space station with big engines so it can jump to other systems. Jaques is a barman, a property owner and a cyborg with a plan to take the station across the galaxy.
Neutron Fields - a series of areas surrounding the galactic Core in which stellar remnants are commonplace.
Neutron Highway - a mapped chain of neutron stars allowing extremely rapid travel between two POIs
The Rift / the Formidine Rift - the void between the spiral arms found after the Heart and Soul nebulae, a common destination for explorers.
Sag A*/Sag A/Saggy/SaggyA/Sadge/Sgr A* - Sagittarius A*; the super massive black hole a the centre of the galaxy. The scientific community hold Sgr A* as the 'proper' abbreviation
S171 or NGC 7822 - an especially bright cluster of stars fairly near to Sol, otherwise known as "what are those bright lights over there?"
Sol - The Solar System; the one our 21st century ancestors came from
[NB, a permit is required]Sothis Spur - the line of new Sirius colonies leading out to the aforementioned Sothis.
Planet Body Abbreviations/terms
AW - Ammonia World
BH - Black Hole
CS - Carbon Star
CFT - Candidate for Terraforming [same as TC] - added as pre-fix or suffix to WW, HMC or RW. Bodies that can be terraformed are worth more than 'regular' bodies of the same type.
ELW - Earth-like World
GG - Gas Giant
HMC - High Metal Content World
Kevin Costners - Water Worlds
NS - Neutron Star
RW - Rocky World
Snowball - Icy world
TC - Terraforming Candidate [same as CFT] - added as pre-fix or suffix to WW, HMC or RW. Bodies that can be terraformed are worth more than 'regular' bodies of the same type.
TTS - T Tauri Star
WD - White Dwarf
WR - Wolf-Rayet star
WW - Water World
Ship/Module related
ADS - Advanced Discovery Scanner; locates all bodies in a system [infinite range within a system]
AFMU/AFM - Automated Field-Maintenance Unit; unit that can repair modules but not the power plant or hull (nor a smashed canopy- it will repair cracks though)
Annie - Anaconda
AspX/AspE - Asp Explorer
BDS - Basic Discovery Scanner; ships are fitted with this by default - locates bodies within 500 ls
CM3 - Cobra Mk III
CM4 - Cobra Mk IV
DBS - Diamondback Scout
DBX/DBE - Diamondback Explorer
DC - Docking Computer
DS - Discovery Scanner; assumed to be the ADS
DSS - Detailed Surface Scanner; essentially an 'add-on' to the BDS/IDS/ADS to 'deep scan' a body after targetting it and being within range to reveal additional information such as composition and materials available (if landable)
Exploraconda - an Anaconda fitted for exploration.
e<shipname> - a ship of type <shipname> which has been fitted for exploration, for instance an eClipper is an Imperial Clipper fitted for exploration.
FAS - Federal Assault Ship
FDL - Fer-de-Lance
FDS - Federal Drop Ship
FSD - Frame Shift Drive; The 'engine' that facilitates super cruise and hyperspace jumps. Sometimes referred to as the 'friendship drive'
HRP - Hull Reinforcement Package
HS - Heat Sink
HSL - Heat Sink Launcher
IDS - Intermediate Discovery Scanner; locates bodies within 1000 ls
KWS - Kill Warranty Scanner
MKIII - Cobra Mk III
MKIV - Cobra Mk IV
MRP - Module Reinforcement Pack
SC - Super Cruise
SCB - Shield Cell Bank
SLF - Ship Launched Fighter
SRV - Surface Recon Vehicle
T6 - Type-6 Transporter
T6E - Type-6 Transporter kitted out for exploration
T7 - Type-7 Transporter
T9 - Type-9 Heavy
VIV - Viper Mk. IV
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