I hate that phrase. I had a boss who said it all the time when I did IT.
1) He said that showing up on time or up to 10 minutes early was actually showing up late, and showing up at least 25 minutes early was considered on time. Getting started when you clock in for an IT job doesn't take more than 15 seconds, and he knew that
2) I did 110% of my JOB DESCRIPTION (all IT tasks and then some) but in the end had the lowest wage amongst my coworkers despite having age and seniority
3) He used all Microsoft products. Every server was Windows Server 2003, and he made us use ASP for all web pages that we made. Even if the file itself only had HTML in it, we had to label it as a .asp page.
4) I walked in on him listening to the Backstreet Boys alone in his office. I suspect that's the reason that I made less than the others.
A few months after promotions were handed out and everyone else received a larger promotion than I did, I decided to quit. One guy worked the same hours as I did, had only been working there for a few months, and got about half as much done, yet he received a larger pay increase than me. I've hated the "110%" phrase ever since.
If someone ever again tells me to give 110%, I'm going to take a massive dump right on their desk, and it will be 110% larger and smellier than usual. Hell, I'll make it 150% larger, just to show how dedicated I am to hard work.