Here's some definitions of guaguaco {btw, this word is pronounced like "wah wahn co"] :

"The mid-paced guaguanco has African roots and was originally a drum form related to the rhumba. Though often played in 4/4, it has a strong 6/8 feel. The basic rhythm is traditionally carried by three conga drums and usually includes a good deal of solo drumming. The theme of a modern guaguanco is a somewhat loose melody line. It is one of the few 2-3 reverse clave forms.
artdrum.com/DICTIONARY_LATIN_PERCUSSION_MUSIC.HTM

The best known and most popular rumba form danced in couples. Born in the cities, its versatility has allowed modern bands easily to adapt and play it. It is mid to up–tempo, played to 4/4 time.
www.salsa-merengue.co.uk/revealit/glosrham.html

A variation of the rumba originating in Havana, Cuba.
www.si.umich.edu/CHICO/salsa/texts/glossary.html

Guaguancó is one sub-genre of Cuban rumba, a highly complex rhythmic music and dance style. The traditional line-up consists of:*three conga drum parts, namely the tumbadora (lowest), tres-dos (middle, playing a cross-clave counter rhythm), and quinto (highest, solo drum). These parts are also often played on cajones, wooden boxes.*claves*palitos (wooden sticks striking the side of the drum) or guagua (kind of woodblock)*solo singer*coro (chorus)*two dancers, one male, one female
en.wikipedia.org/wiki/Guaguanco"

http://www.google.com/search?hl=en&rls=GGLG,GGLG:2005-45,GGLG:en&defl=en&q=define:Guaguanco&sa=X&oi=glossary_definition&ct=title