1. The tilde character.

2. (To make) a small or insignificant change. E.g. twiddling a program often fixes one bug and generates several new ones (see also shotgun debugging). Bits are often twiddled. Twiddling a switch or knob implies much less sense of purpose than toggling or tweaking it; see frobnicate. Bit twiddling connotes aimlessness, and at best doesn't specify what you're doing to the bit; to "toggle a bit" has a more specific meaning.

[Jargon File]