I've never heard the word in person, but I've seen it online. I also kind of agree with Squirrel. I don't have a a problem with slang or new words making it to the dictionary, but I don't think this one is worthy of being put into print. Online dictionaries aren't a problem; they're easy to add to, but actual print needs some editorial discretion. Putting every transient slang word in print will make the book too big, and have many errors of omission.
Maybe they should have a slang supplement, and the words with staying power can be transferred to the dictionary proper after ten or fifteen years.