That's because the word, which derives from video game speech
(Taken from S3's link).
Bah they got it all wrong. They assume that it comes from video gamers, but it doesn't. It actually derives from hackers on IRC. A lot of networks like undernet eftnet and dalnet have small channels (and large ones) where hackers shoot the shit. When one would gain root access to a box, they'd go "woot!"
so basically w00t derives from root, not video gaming speech.
