The dot, ・, is analogous with / in English. It is even on the same key on a Japanese keyboard.
I personally like "to ka" I mean, it is like と for "and" and か for "or" put together, just like and/or! [/kidding]. but really, while a decent approximation in meaning, I feel the situations in which one would use "and/or" differ from the situations in which one would use とか. (formality)