What is your deal? Nobody is trying to be "hip" or create a "cool lingo." It's literally the first letters of attractions and areas with long names. Ya know, like an acronym. Sorry to break it to you, but acronyms aren't leaving the internet any time soon. As I said before, even Disney uses acronyms, including the ones in this thread.
Generally the context of the thread should tell you what the acronym means. To a specific point that you made, most people do refer to them as 'Splash' and 'Space,' because there are two attractions with the same acronym. Although, if the thread is specifically about one of those attractions, people may opt to use SM instead. Again, context generally tells you what you need to know.
Just out of curiosity, do you refer to the anti-lock braking system in your car as such, or do you call it ABS? Do you refer to filing your taxes with the Internal Revenue Service, or do you call them the IRS?
