I'll take a stab at some of the most frequently used
C7 = 7th generation of the Corvette model
NPP = Dual mode performance exhaust
LT1 = 6.2L NA (normally aspirated) Corvette Engine 2014- up in Stingrays
LT4 = 6.2L Supercharged Corvette Engine first used in the Z06
1LT, 2LT, 3LT = Interior equipment packages from least to most inclusive
FE4 = Magnetic adjustable suspension
Mag Ride = See above
Vert = Convertible
Z51 = Performance package including dry sump engine, bigger wheels, tires and brakes, Ediff (see below)
Ediff = Electronic controlled limited slip differential
A8 = 8 speed automatic transmission 2015 - up
A6 = 6 speed automatic transmission 2014
M7 = 7 speed manual transmission 2014 - up
PDR = personal data recorder 2015 - up
C7 = 7th generation of the Corvette model
NPP = Dual mode performance exhaust
LT1 = 6.2L NA (normally aspirated) Corvette Engine 2014- up in Stingrays
LT4 = 6.2L Supercharged Corvette Engine first used in the Z06
1LT, 2LT, 3LT = Interior equipment packages from least to most inclusive
FE4 = Magnetic adjustable suspension
Mag Ride = See above
Vert = Convertible
Z51 = Performance package including dry sump engine, bigger wheels, tires and brakes, Ediff (see below)
Ediff = Electronic controlled limited slip differential
A8 = 8 speed automatic transmission 2015 - up
A6 = 6 speed automatic transmission 2014
M7 = 7 speed manual transmission 2014 - up
PDR = personal data recorder 2015 - up