"nutty slack" means: A cheap fuel consisting of dust]] and lumps]] of coal; unlike other solid fuels it was not rationed during the period after World War II.. This is a fairly neutral word with no inherent risk attached. There is no real cause for parental concern; it is descriptive vocabulary rather than something dangerous. If your child uses it, context will usually make the meaning clear. A brief, curious question about where they heard it is generally enough to know whether to follow up.