That's what I've always know it to be. Urban Dictionary disagrees with me vehemently, though. And, well, it has this great gem:

6. zomg
ZOMG was the ruler of the planet XYRZON until 2451 AD, when he was overthrown by KFOP after the battle of SHMUR. the battle marked the violent end to ZOMG'S noble reign as ultra-lord. KFOP soon proved to be an incapable ruler of XYRZON, and the planet collapsed into chaos in 2453. since that day, the residents of XYRZON have used ZOMG as a declaration, nay, an exclaimation of hope. hope that one day peace shall return to XYRZON, on the shoulders of a truly worthy king.