Does your dog recognize certain words?

Simple answer - absolutely.  Dogs can learn up to about 400 words and phrases.[]

Jezebelle's favorite word? Squirrel LOL I even had to start saying it in pig latin - she learned that too. So now, it is fur tail.  She goes nuts for squirrels, so we have to be careful when we don't want her jumping off the walls.  When we have bird feed out during the winter, she knows the phrases "run him off" even if she isn't in the room; or  I can say "you're falling down on the job" and she'll hit the windows in the kitchen to run them off the feeder.  I'll ask her to do a "squirrel check", and she'll run to every open window looking for one.  She loves it. Her face absolutely shines with happiness when it involves squirrels.

Her other cute one, is when we are playing fetch, she'll push the line towards where I am throwing the toy. All I have to say  is "your cheating" and she runs back and sits in front of me - it's hilarious. I'm currently trying to get Tequila to do the same, but since she is just now learning 'bring it' I am not pushing the 'cheat' phrase yet. Maybe she'll learn it by watching Jezzy, as she is really bad about cheating LOL!

Gingerbread knows:
 
Lay down
Bye Bye
Night Night
Treat
Wait
Are you hungry/thirsty?
Toy
Go to sleep (when he's pestering me for attention when I'm trying to sleep)
Tweetums (his nickname)
Okay
Stop
Upsies
 
So far Cinnabun knows his name, come here, no, and wait.
 
edited to add a few more that I remembered

Sergeant knows watch'em, cat, bird, squirrel, deer, pee, poop, treat, ball, toy and all of the obedience commands.  He also knows his name.

 
Jake knows all the obedience commands, pee, poop, toy, and treat.  He is still learning.  He is only 4 1/2 months.  He also knows his name.

Blue knows
 
find it
outback
home
car ride
school - ment he got to go to my school with me and get groomed plus all the love and addition he wanted.
cookie
treat
RMB
In the yard- If he goes past our yard which I hardly have to use since he comes running back if he goes past 2 ft.
 
Thats all I can think of for now.

Toby's a rescue dog, so I often find myself wondering what words he knows in addition to the ones I've taught him. He's such a clever boy, there must be a whole slew of things he learned from his original owners that he wonders why he never hears anymore... Maybe he's peeved he ever wasted his time learning them in the first place!

Yeah, they do.  Zues knows: 'Say please' (he'll bark, and then get his dinner), 'Snaps', 'Who's here' (he'll tear off the front window and start barking), 'Feed the puppies?' (he figured out when we say FTP? it translates to that too), 'Go home', and 'bath'.  Izzy and Brandi know 'go for a ride?'.  And Hawk knows 'Let's go hunting', 'Go home', and for some reason calling one of our dog's name multiple times (and they don't come) translate's as a command to start howling for them.

Max, ever since we've had him, will stop and wait for a dog that he's discovered coming along behind him - even if it's waaaay behind. A simple "come" seems beyond his grasp ... but "He's going that way.  You have to come this way" has always made sense to him and he responds accordingly.  And he's been that way from day #1.  Go figure.[]

Joyce

certainly.
 
berserker knows sit, bones, ride, potty, etc. and the one that insights the most amusement is a b word i dont think i will spell out, but it means female dog. thats what we call his stuffed toys []

It would probably be easier to tell you words my dogs *don't* understand. Most of my dogs are pretty good at problem solving, and they understand context to a degree as well. It gets frustrating because they learn what we're spelling means, so then we have to come up with something else. For example - it started out as "ball". Then it became "B-A-L-L". Then it became "that round object used for throwing". []

Roxie recognizes "go find it" if we're playing with an item.  She'll go searching for whatever it was (ball, squeaky toy, or whatever).  She definitely knows what cat, hungry, water, ball and leash are.  Also, she can hear my keys jingle and thinks we're going for a car ride.  I hate that one, because if I accidentally jingle them, she gets excited.  [&o]

"cookie," and "doggie park

Joey responds to "cookie" with an ear perk and a run to the pantry.

"Doggie Park," is a frantic run around the house followed by tugging on his leash.

Riley knows "Walk","Sit","Shake","Down","Off","Wait", "Up" and "watch me".  Also, if I tell him "BeddibyRye," he'll run upstairs to his bed.  Sometimes he'll go to my bed, but oh well.  He also know "Dog cookie???" and other stuff like that.
 
I want to teach him to play dead, but I'm afraid he'll mix it up with roll over (Which he already knows).  Ohh, and I also want him to know how to speak.

In our house here are some banned/known words:

Cheese, treat, cookie, sit, s*it, Scout (Nikki runs upstairs), Bath, Walk, ball, 'go night night', Show, speak, down, stay, heel, high five, shake, go potty, go pee, 'take the dogs out', outside

Jackie would tell Beau 'I have a cookie for your face' whenever she was handling him and he did well.  Cracked me up.  Anyways now we can no longer say 'I'm going to go stuff my face," because he gets really excited and stacks for us.  xD

Food, dinner, rabbit, bunny, birdie, bathroom, ousite, walk, bath ( = hide behind the couch/urinate), car (= crazy mutt running around!), and a few more.