Banking is the bank of the track. Corners are normally banked (save slow sections and wooden coasters) and straight track isnt.
Heartlining is when the track rotates around the riders heart position in order to reduce laterals.
Example: http://nldc.interfix.net/i1265
Notice how the track moves out and around the path of the riders heart (right around where the camera is)
NoLimits Example: http://www.real-coasters.com/dl/heartline_guide.zip
Inside are 2 examples - one proper one not.
Pumping is a phenomanon where the track radius changes more than twice over a certain element (single turn, single loop, etc). This can be seen by watching from the back of the train. If when it goes through a turn the front of the train seems to wiggle (pump side to side) thats pumping.
For a hill, if the train seems pull more than once while going up and over, thats also a pump.
NoLimits Example: http://www.real-coasters.com/dl/pump.zip
First hill is how it SHOULD look. Second Hill is how it should NOT look.
That should cover those common terms.