Yet more!

Related Terms
AU (Alternate Universe) Fic
Like non-canon (which see), but slightly different. The characters are usually transported to a different time/world, depicted at a different age or as a different gender, etc.
Baci (pronounced "bah-chee")
Italian for "kisses". Not anime-related, but this is what my cousins named their adorable Samoyed puppy. :0D
Biases
Slayers fandom, like many anime fandoms, is deeply divided on the subject of which characters should become romantically involved. A bias is basically a declaration of which camp you belong to... yours truly happens to be a proud supporter of Lina and Zel, but then, that's just my humble opinion ;0D
Canon/Non-Canon Universe
Canon is standard or "official". A professionally produced video or manga is canon anime; fanfic/fanart is non-canon and usually does not conform to the rules of the particular series.
Citrus, Ecchi, Hentai or Lemon Fic
Fanfic with strong sexual content. (Brancher points out that "hentai" is often more intense and can include anything twisted, not just sexual. To my understanding, it means "pervert" as well.)
Cosplay
The practice of dressing up--for a convention or otherwise--as an anime character. Usually a cosplayer gets into character as well, but not always.
Crossover and Fusion Fic
This is slightly complicated, so pay attention...
Crossover fanfics are stories in which the characters of one fandom meet or are transported to the same universe as those of another fandom. For instance, something like "Batman Meets The Shadow" counts as a crossover. A fusion fanfic is one in which the characters of one fandom play the roles of the characters in another. For instance, if the Ranma 1/2 characters are re-cast as the Addams Family, that's a fusion fic. (It's also pretty accurate, IMHO... ^___^)
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Fan Service
Mild panty shots or "skin shots" in anime--i.e., nudity or really low-cut shirts/bikini thingies on female characters. Obviously the fans getting the "service" are males... although I think it can apply the other way, with certain bishounen (which see) going shirtless or wearing open robes. (Fushigi Yuugi, anyone?)
Filk
Basically another word for a fan-based song parody. The term originated in Blake's 7 fandom in the '80s, when the fan-parodies were being performed at a convention. They were supposed to be billed as "folk music", but somebody screwed up making the poster and it came out as "filk music". As terms usually do, it stuck.
G-Fiction or G-Fic
An abbreviation for "gay fiction" or sometimes "gay-boy fiction"; see Slash.
Lime Fic
Fanfic with mild sexual innuendo, not approaching the level of a lemon.
Magical-Girl anime/manga
Anime or manga where the protagonist is a teenage girl with superpowers (and is occasionally a princess of something or other) who regularly saves the world from evil, usually drawing part of her magic from the power of love or from her own feminine attractiveness. Usually she has other superheroine friends and a love interest of some sort helping her out as well. (A perfect, and I do mean flawless, example of the magical-girl formula, is the movie "Sailor Moon S".)
Mary Sue
A fan-created character, usually a blatant self-insertion, who is invariably strong, powerful, intelligent, and stunningly attractive--often TONS more than the canon characters. Usually they are fairly one-dimensional in their genius, smart-ass-ness, or personal attractiveness, and woe to the canon character who is singled out by the author to fall in love with the Mary Sue.
Mech designs/Mechs/Mecha
Mech designs are the robotics or machinery designs to sci-fi/futuristic-technology-themed anime. As Ben points out, mecha are not spaceships; they are the robotic armour worn by (or the very large guns carried by) characters. So, for an example, rent some Evangelion and look at the Evangelions.
MST
Stands for Mystery Science Theatre, the TV show from which this term was taken. In the show, a couple of guys would sit around and mercilessly make fun of a cheesy old sci-fi movie. When someone MST's a fanfiction, they do the same thing--quite basically, taking it apart and pointing out all its flaws. Many of the MSTs that exist are quite funny and good-natured, actually... at least those that actually get posted. ^_^
OAV (also OVA)
Stands for Original Animated Video. Basically, anime which is made specifically to be released on home video (as opposed to a theatrical or TV release).
PWP
This is an abbreviation for either Porn Without Plot or "Plot? What Plot?" The first one applies to lemons, the second to really mushy romantic fics. Nothing really happens in these, at least nothing beyond sweet nothings and... ahem... other stuff.
River City, Iowa
Where you've got trouble, with a capital T.
SD (stands for Super-Deformed)
Loosely defined (to my understanding, anyway) anime art style, which encompasses anything from chibi (which see) to stick figures. Basically unorthodox and super-cute.
Shipper
Kind of a melding of "relationship" and "worshiper"; basically, a fan who especially enjoys (and/or advocates) a particular couple, standard or non.
Slash
Regular English term for yaoi or yuri (which see). The term originates from the slash used to abbreviate pairings; i.e., Thing One/Thing Two.
Squick
Something that makes one particularly uncomfortable, whether it be of a pornographic, romantic, or merely psychologically disturbing nature. May have something to do with the noise one makes while reading a fic that makes one thus uncomfortable... ^_~
"Tentacled" Anime
A particularly... um... squidgy kind of anime porn.
More to come...submissions are always welcome!

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