Their definition: "Woot is a lifestyle. Woot is a vision. Woot is a pungent aroma that never apologizes for what it is. Woot is the hope in the eyes of a child when that child realizes you don't have to pay List Price for cool stuff. Woot is an ever-evolving deal maelstrom churning around a tornado circling a mystery. If you haven't seen Woot since yesterday, you haven't seen Woot."
Simply put, they are a company that buys a ton of stuff in bulk, then sells it at a discounted price. Typically they sell 10 new daily items each morning at midnight CST. These items are only available for 24 hours, or until they sell out, whichever comes first. They also feature speciliazed sales called Woot Plus® deals, which are a grouping of similar items that are available for a longer period of time.
Generally once a month, woot has a woot-off. This is an event where some sub sites on Woot will sell multiple limited quantities of an item for a short period of time. Once the item sells out, they will list another one.
Woot Tracker was created by woot user Lichme (the same guy who created Woot Stalker. It is a page that can save you a lot of time trying to find the stuff you want to buy.
While Woot has a lot of great deals, some of them aren't so great, and some are really hard to find. Once upon a time, it was easy to find what you wanted, but they have expanded their sales, making it more difficult to navigate. Woot Tracker categorizes the sales, and allows you to quickly filter through the crap you don't care about. It also automatically updates the sales, so you don't have to keep refreshing to find new items when they get added.
Check out the settings page for some useful sorting options.
BOC is short for Bag of Crap, and the contents of it are unknown until you get it. Why would you want it? Because it's exciting, it's cheap, and it's fun. Many users will try to get one, however only a few will succeed. Using Woot Tracker will greatly improve your chances of scoring one.