Well, I use nihilism with a pretty specific meaning; existential nihilism which in essence means that values are arbitrary, internal products. They're still values - people act on them, or they wouldn't be values - but there is nothing to a value other than that people have some feeling/preference about some thing or abstraction.
Probably the major interesting things that come out of this are a rejection of authority and duty, including morality. In this sense egoism (ala Max Stirner) is a flavor of amoral nihilism. I would also say it's appropriate to call me an egoist or (somewhat tongue-in-cheek) a Stirnerite.