Rastien said:
Council
House
And
Violent
That's actually a common misconception, the origin of the word was, (if I remember my A-level English correctly) a gypsy slang term that came into common use. The acronym thing isnt true, people have just made that up later on.
To answer your question, chavs generally arent viewed as a sub culture exactly... it's more often used as a blanket term for young people who cause trouble. And from what I've seen, this word is starting to fall out of use a lot more. At least where I live, anyway.