Conversations, idioms/phrases

Svartur - black
Galdur - sorcery, magic, conjuring trick, trick
Snefill - trace
Efni - matter, substance, material, situation, means, fortune, dope/hash
Snefilefni - trace element
Árás - attack
Sveit - district, region, country/rural area, team
Óvinur - enemy
Turn - tower
Stöðva - stop
Vinsæll - popular
Klassískur - classic, classical
Spilakassi - slot machine, one-armed bandit, fruit machine
Ávani - bad habit, addiction
Binda - tie, bind
Síðari - latter, longer
Síður - long
Tungl - moon
Jörð - earth, ground, soil, farm, estate
Meira - more
Flugmaður - pilot
Reyndur - experienced, skilled
Áskrifandi - subscriber
Yfirlit - survey, summary, overview
Hvenær - when
Lita - colour
Padda - insect, vermin, rascal, cheat
Veiða - catch, hunt
Hófur - hoof
Hóf - moderation
Truflun - disturbance, mental confusion

Conversations:
Bara svona sjá hvernig þetta virkar (just seeing how this works)

Phrases/Idioms:
Ég kem alveg af fjöllum - I come completely from the mountains (I have no idea what you're talking about / what's going on)
I den - "back then/in the old days" (common Danish slang)

Some words were taken from conversations, some from an online letter site, and some from an online game site.