I think it generally means that you have a high level of control over the camera like you would on a SLR, and that it has a very good lens like a SLR. But it's not a detachable lens with a flip up mirror like a SLR. It also looks a bit like a SLR. Actually, I'm not sure digital SLRs have a flip up mirror.
SLR:
SLR-like:
