No, it's not some new engineering field to develop social media sites. Social engineering has been around as long as the con artist has been around. The terms stems from the social science world where social engineering is deemed as an act of psychological manipulation.
Two thirds of all of the websites in the world use OpenSSL, this vulnerability would enable hackers (or anyone else for that matter) to exploit the cryptographic library and use that as a way of stealing information trough the SSL/TLS gateways.
I'm sure you've heard the news about Heartbleed by now (unless you're in vacation wonderland and have taken a tech break). This is a serious vulnerability in the core of the Internet and is something we all should be concerned about.