Bokeh – the look of the picture in the parts where you can’t tell what you’re looking at.
Image Stabilization – a technologic triumph consisting of lenses, magnets, position sensors, springs, and electric motors that is nearly as effective as 3 sticks of wood attached to a base plate. See also, Tripod.
Lens coating — thin layers of of substances applied to clear glass that makes it clearer. In the 1600s people would be burned at the stake for claiming things like this.
Sensor – The device that actually takes an image. Its most important attribute is the number of megapixels unless yours has fewer, in which case dynamic range, high ISO performance, microlens effectiveness, color accuracy, and other characteristics are more notable.
Check out the the LensRentals Blog the full list of humorous definitions.