LARP: Uh, no thanks.
Lazersharking: 4th edition anyone? I don't just attack, I use THRUST OF THE WIND, and attack. Every round.
Layering: The relationship between created numbers, and the derived numbers that are used in play. The more levels of these there are the more the system is said to be layered. Maybe it's just my frustration with the man, but I feel layered doesn't carry the correct connotation. I'm not sure that this is the right term for this kind of thing.
The Lumpley Principle: "System (including but not limited to 'the rules') is defined as the means by which the group agrees to imagined events during play." It's interesting because of what we can give that metric to (dice, books, tables, the GM etc.) , though I find the use on the Forge somewhat inconsistant.