1) An interjection similar to "YAYE!" or "Woohoo!" used to express joy or excitement, usually about some kind of accomplishment. Primarily used by gamers, spreading rapidly to anyone who chats online
2)WOOT! is a cheer. Like YAHOO, YAY, WOOOOOO HOOOOOOO. WOOT! is all good.
3)A word originating from the old D&D games, was used to express excitement when finding treasure, the player would say "Wow loot!" thus over time turning into "w00t" in the videogame world, as a form of satisfaction or victory..
"Wow loot!" -- Originating from D&D days..
4)Also fabricated by EverQuest players to mean "I won the battle" or "I leveled" or some other cool event, due to people just asking,"Hey what does that mean?...it sounds cool..does mean huzzah or victory?", and only answering with "uh yeah, sure" or with more woots. This eventually evolved to w00t due to sheer boredom of saying it all the time.
theres a few answers for you LOL