CO = Cut Off
T5 = Woolworths, not sure if it has to be suited ?
AJ = Ajax
88 = I like to call 2 fat ladies

Also BB has to meanings
1 - Big Blind
2 - Big Bet

i.e. in Limit 2/4 a small blind will be 1, a big blind 2 and a big bet 4. If someone said you need 300 BBs to play at this table they would be refering to Big Bets.