It's a short form of "What do you think?"...
hey whatchuthink of the new movie? did yah like it?
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Titser means that the teacher has a nice rack. It is derived from the word Teacher. A teacher is to teach, as a titser is to tits. A titser uses her boobies to get the attention of the students, but the students are really paying attention to somewhere else (particularly the titser's tits).
Did you see the new titser in our math class? She is so hot!
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