The actual definition of ghosting is slightly different from what Tombo wrote and more like what PianoBasher wrote. I think some manufacturers are using the term wrongly as well. I read a description of what ghosting is after following links from this thread but I can't remember where it was so i'll try and paraphrase........
Ghosting occurs due to the way that keyboards read which key is being pressed. Essentially (and simplified) you can imagine a series of wires running horizontally under the keys, and another set running vertically. When a key is pressed it shorts 2 wires and a current flows from a horizontal wire to a vertical wire. If 2 keys are pressed at once then as long as they are on different pairs of wires then the keyboard recognises the 2 keys from the current flowing in each set of wires. It still works if the keys are arranged on 1 vertical wire but 2 different horizontal wires - it can still tell which keys were pressed. However, if 3 keys are pressed and 2 of them share a horizontal wire, and 2 of them share a vertical wire (1 of the keys is common to both these pairs) then it create a ghost press whereby the keyboard doesn't know if 3 keys were pressed, or a slightly different combination of 3 keys, or indeed if 4 keys were pressed! This is what ghosting is.
The term is often wrongly used to describe the lack of ability to do NKRO. So technically, NKRO and anti-ghosting are seperate things, but some manufacturers use the terms interchangably. Real anti-ghosting requires more sophisticated interperetation of the signals generated when keys are pressed.
Not sure if that makes much sense.... the original article had useful pictures to illustrate what i have probably rather poorly tried to describe!
Some keyboards use optimised clusters of keys to eliminate ghosting, but not actually solve the overall problem. Most gaming keyboards use 6KRO, but most standard ones use 2KRO. Some companies will take a 2KRO keyboard and change the layout enough to make WASD and ESDF work with more than 2KRO, so maybe 6KRO. So on some keyboards the anti ghosting is classed as technology they have built to stop there optimised keys from messing up. It is a funny one, as you are right in that companies like to fool people into believing they wont have missed key pushes or pushes that appear with a delay. There are also companies that fake more than 6KRO, Thermal Take are one such company, they only offer more than 6KRO in Word and some games, totally misleading.