Directly translated, it means "It walks", or "it'll walk" – a rough translation of the meaning into English would be "Eh, it'll work".

In fact, I could swear I've heard the phrase "I'm gonna let this walk for now" as in "I'm gonna let this infraction pass unpunished" in American English in a movie or something, but Google doesn't seem to be throwing up too many references for that. But you could imagine it in the same way too, as "let it walk".