Not really, it would be a grammar mistake if they actually meant, let's say, "its" in place of "it's". Since the pronunciation of the two is the same, they word they actually meant to write is "it's", they just spell it wrongly.

Oh, can I add another pet peeve. "Semantics" when discussing naming of things when the meaning is clear. "Semantics" is about meaning, not about naming. But it's "semantics", obviously :).