well, I think since it's vegas and people aren't normally "outrageous" except when in vegas... that the szluka contest is a contest to see who can do the most outrageous "that's so NOT like..." of the weekend... not fear factorish, but just something you wouldn't normally see this person doing based on how well you know him/her's online persona...
szluka got it last year (and it's more of a phrase than it's something with a prize) because he was the most outrageous of the group when it came to how he handled girls and his effect on women... and/or the Mrs. Robinson story....