A zero-day exploit is one where an exploit written to take advantage of a bug or vulnerability in an application or operating system appears immediately after the vulnerability has been discovered. This leaves almost no time for a vendor to create a patch, or for IT administrators to implement other defensive measures.
The term zoo refers to malicious code that has not been seen in the field. Anti-virus vendors include detection for such malicious code, since there’s no way of knowing if it will spread successfully in the future.