Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that?

No, it's one of the alien weapons you can find; there's a small collection of them. The numbers are just a joke towards the binary code.

No, it's not a glitch. They're pretty common. 
 
boderlands.wikia.com has a list of all the guns in the game.

" Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that? "

" @LightRain said:

" Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that? "

Use a binary to English translator and see what your gun says.  "

" @LightRain said:

" Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that? "

Use a binary to English translator and see what your gun says.  "

" @The_Laughing_Man said:

" @LightRain said:

" Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that? "

Use a binary to English translator and see what your gun says.  "

uh, that doesnt  work, binary stuff must be divisible by 8.... "

" @captain_clayman said:

" @The_Laughing_Man said:

" @LightRain said:

" Woah, is this some sort of glitch gun? It has unlimited ammo, does 886 damage, and has a description that is just 1s and 0s. What's up with that? "

Use a binary to English translator and see what your gun says.  "

uh, that doesnt  work, binary stuff must be divisible by 8.... "

One of them translated says " Haduken"  The text IN the gun info can be translated if I recall right.  "

Just so you know, they might seem cool, but they aren't actually very good. The main problem is the cooldown period. If you plan on using them, have several of them equipped at once so you can switch between them while the others recharge.

" Just so you know, they might seem cool, but they aren't actually very good. The main problem is the cooldown period. If you plan on using them, have several of them equipped at once so you can switch between them while the others recharge. "

" @BeachThunder said:

" Just so you know, they might seem cool, but they aren't actually very good. The main problem is the cooldown period. If you plan on using them, have several of them equipped at once so you can switch between them while the others recharge. "

The real issue is by the time you get them your other weapon skill levels are very high. Once you get the alien weapon skill up they are amazing.  "

" @The_Laughing_Man said:

" @BeachThunder said:

" Just so you know, they might seem cool, but they aren't actually very good. The main problem is the cooldown period. If you plan on using them, have several of them equipped at once so you can switch between them while the others recharge. "

The real issue is by the time you get them your other weapon skill levels are very high. Once you get the alien weapon skill up they are amazing.  "

 
Basically, there's no real reason to use them since there are plenty of much better weapons to use. "