Someone did explained the meaning of the term well. For me, it really doesn't matter to me as long as its appealing to me. Even more so on plots and story if it isn't a comedic type. Of course what I don't like on animes is way too much Fan Service. A small or moderate amount is good, but too much is a bad thing.
I like cute stuff. I like Moe mixed in with the rest of what I watch. I'm not a huge anime watcher but I do see that it might be a little too widespread, but eh, trends. It doesn't annoy me as much as over-use of fanservice in stuff that's not aimed at that type of audience (read: High School of the Dead) At least IMO.