what does it stand for?

 

...and where is it?

 

powertrain control module, i think. Its in the passenger side footwell.

 

It's directly in back of the radio/console on the floor.
Go down by your gas pedal and pull the carpet back, it's the silver unit with the one black connector.
The pass. side has more connectors, one gray and three blue I think.
This bad dude controls the car basiclly, cost about $1000.

 

got it replaced by the dealer under warranty along with fuel regulator.

 

Yep, Powertrain Control Module, and you can access it by pulling back on the carpet from the passenger side footwell.