It's actually Latin. "Fiat lux" translates as "Let there be light". In Latin, it's approximately "let it be" or "let there be"; in English, it's used in context like "fiat money" (money created because the authorities say it's worth something, rather than backed by a precious metal or mapping to a unit of work or some other item of value), and means something that is declared to be so by exercise of authority.
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Is it some slang that my ancient self has not discovered yet? supposed to mean forget maybe?
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First, it's a pun on "fiat lux" -- let there be light/let there be lunch.
Second, the place we were going for dinner is http://www.cafefiat.com/ -- fiat lunch = lunch at Cafe Fiat!
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