Lies, all lies. :) There're = there are. (contraction) This is a spoken form, so only use it in writing if you are quoting what people have said. And if they said it that way as a contraction, of course.

Abbreviation ? It is used as usual ... I think . http://images.google.com/images?hl=en&source=hp&q=there%27re&gbv=2&aq=f&aqi=g10&aql=&oq=

Peachey's answer is correct.