Over the years fear of "The New World Order" has been thrown around with people terrified of it happening and the loads of conspiracy theories about it.
Excepting the connection that some give between the New World Order and the Christian concepts of the end-times, I've never really understood what the fear was about.
What are the reasons for the fear of a "New World Order"??
Basically, the New World Order in conspiracy terms is everything there is to fear. The term refers to a shadowy cabal elite of the same name, formed from the most powerful people on earth that no-one has heard of. They aim to unite the worlds nation under one government and one currency, and to 'depopulate the world' down to 2 billion. They also expect that with only a third of humanity, they can give 2/3 of the populated Earth back to nature, and live on the remaining third.
The government in question will be very left wing, and may reflect many aspects of 'The Party' from 1984. What you will notice is that in every version of the New World Order, the exact specifics change to reflect what people fear. Moreover, it is generally agreed that whatever their policy, it will be pursued recklessly, with complete disregard to personal freedoms.
The main hype you observe is how people have interpreted that the New World Order have started to enforce their policy already. You will most probably be able to find a New World order that's been blamed for everything, from AIDS to the Holocaust, mostly due to their policy of 'depopulation'.
The New World Order theory has been happily blended with other conspiracy theories over past years, so nowadays what some conspiracists understand by New World Order is completely different from what others understand of the theory. Recently people have identified the New World Order as a bit of a scapegoat for some of the more nasty events in modern history, which is essentially what the New World Order has become. Other discernable points of interest is that in most versions, the New World Order represents a very centralised form of power, and can be seen as an extreme left wing group. This reflects in a way the identity of the main believers in the New World Order theory.
I personally see it as a way of viewing how and when times change from one thing to the next. The identity of the New World Order nowadays seems to reflect the polarization of US politics that exists today, thanks to Obama's rather liberalist outlook after years of Republican policy.
The main point to remember, and by far the most important thing to remember is that all the evidence you see from the New World Order is where people have invented a reason for the New World Order's involvement. THere is no actual solid proof of it's existence. When politicians speak of a New World Order, it just means that the order of things in the world has changed, and that's all. This is one of the main things that many NWO supporters misinterpret, as the political meaning of the term actually existed before the idea of the New World Order as a conspiracy. Lastly, NOVUS ORDO SECLORUM means 'a new order of the ages' and not 'new world order'. NORVUS ORDO SECLORUM is found on the United States 1$ bill. The All Seeing Eye is part of the Great Seal of the United States of America, and a full interpretation of the symbolism within the Seal can be found on Wikipedia, of all places.
Hopefully at least some of the above should help.