Jargon is ok to use if the jargon refers to a an aspect of the game that is not an action. For example, "hit points" or "ac" seem fine because you never will have to "hit point" or "ac" a foe. The problem that I see, which many people are examining on other threats about language use and roleplaying, is when Jargon is used as shorthand for more complex actions.
In another thread, I compared power names to "macros" in a computer game. If many or all of a PCs powers are named "macros" then players (either through laziness or through the desire to speed up combat) will resort to calling out the name of the macro to represent a more interesting and complex move, reducing the narrative feel of the game. To save time (or as a lazy player) I might tell the DM, "I attack with Tide of Iron," rather than saying "I push forward with my shield to bash him and attempt to push him back."
The way 4e made it very easy for anyone to play and pick actions for turns was great, but the "macro" functions in my opinion also made the combats seem more mechanical, less story driven. It also added to unnecessary repetition (and power bloat).
This is the type of vernacular that I'd like D&DNext to avoid. "Tide of Iron" is really a shield bash attack. "Cracking the Shell" is really a damaging attack that attempts to sunder an opponent's armor. An extra feature like applying 5 ongoing damage seems like it should be called a "painful wound" that needs attention, rather than "5 ongoing damage."