I thought it meant "Let's Get This Merge" like it was a play on "let's get this bread". I know it stands for "Looks Good To Me" now but I still prefer my reading :)
Urban Dictionary does have Let's Get This Merged as its second definition, but it's at a net of -121 points, whereas Looks Good To Me is at net 941, and was added 10 years earlier. That doesn't seem ambiguous to me.