You don’t need to know the actual meaning, but you do need the context in which it appears. If your coworker puts a new acronym in a code comment it’s likely not a vulgar definition, for example.
Yes, but then it is something like reading those list of acronyms definitions where LOL somehow means "hail Satan" (urban dictionary often is quite good, but in the context of the question this can be a serious problem). I would recommend it more for refreshing old memories rather than for learning.