The word is either really clever or ridiculous and sort of embarrassing... I think Colbert is hilarious, he's just not doing the same kind of show as Jon is, it's a more direct kind of satire... the "I'm going to act like an extreme version of Bill O'reilly". It is, on occasion, hilarious, but not as often as Jon Stewart is. However, he just started. Give him time. The Daily Show took a while to really hit its stride, too.