An alternative spelling of evolution, with the implication being that evolution is evil.
Generally speaking, people that use the term do not think highly of the theory of evolution. They tend to favor the "equally-compelling" "scientific" "theory" of creationism. Heck, they're both just theories, right? ;-)
They also tend to gloss over the fact that evolution is a scientific theory based on voluminous real world evidence that has withstood rigorous scientific scrutiny and creationism is a pseudo-scientific theory based largely on a religious book.
See Also: I ain't evolved from no monkey...