I heard about it in the last year or so here on HN, otherwise I wouldn't have known what a FizzBuzz was. I've been coding for 20 years professionally and 30 for fun. I've never coded a Fibonacci either. I think colleges need to teach how to code a microcontroller to do something, build a multi-platform application, build a database application, set up a CI server, etc.
We use FizzBuzz as a very basic first filter in our hiring process. It saves us a lot of interview time considering some 60% of candidates fail (or give ridiculously over-complicated implementations). Resumes are nothing but an exercise in creative writing, it seems.
coding a simple function for evaluating the fibonacci sequence is a reasonable alternative to FizzBuzz that allows for some slightly more sophisticated requirements: like "code a recursive function that evaluates the first N members of the fib sequence. use memoization in your implementation and show how this runs in O(n) time complexity."