An example of this is the term groovy which is a relic of 1960's and 70's American hippy slang. Nevertheless, for a slang term to become a slang term, people must use it, at some point in time, as a way to flout standard language.
Cycling is a highly effective form of exercise. It requires a lot of energy, builds lean muscle mass, and improves your strength, cardio capacity and endurance. However, cycling won't specifically burn belly fat. It will certainly help to reduce your overall body fat, but since spot reduction is a myth, you will have to be patient for your belly fat to burn off with the rest of your fat.
Keeping a brisk pace during bicycling burns more calories, whittling away body fat. Cycling at less than 10 mph burns only 235 to 370 calories in one hour, depending upon your weight. Add 2 mph to your pace and you burn 350 to 550 calories per hour, enough to lose up to 1 lb. of body fat per week if you exercise daily.