This term has been bandied about for quite a bit and can be a topic of quite a bit of discussion. Caribbean it fellows should pay attention to this term if you haven’t already.
This is one of those terms in the tech industry that has taken on a life of it’s own. What is means to be a growth hacker, I would say is still a little bit in flux, but it is fairly well understood what "Hacking you growth" means.
In this blog post over at TNW, Andy Piggot, President of E-Commerce and Marketing does a fairly good job of explaining what growth hacking means and gives some great advice for hacking your growth.