I actually had to google the term. I had no idea and I am a very proficient person when it comes to words and topics. I would have to assume on the whole most Americans do not know what it means. I plan to further explore the term for self knowledge.
A lot of Americans just don't really try to understand how things work when it comes to our foreigner policies. They see it as they are here from another country and taking the jobs we have here. That's how it is in my area anyway, maybe larger states that are not in the bible belt are different.
Your average American would not be familiar with the guest worker program unless their families are recent immigrants themselves. If you are already authorized to work in the country, you do would not give a second thought to how people who do not have authorization would go about working legally.
In America the idea of being a guest worker seems to be lost in translation. While immigration is a hot topic for many, citizens of the United States lack the basic knowledge why guest workers are needed. Field jobs, short-term jobs and other tasks usually are accomplished by guest workers who come to the USA to work and then leave after the job is done. As there is such a distrust in immigration status, some people assume that guest workers won't leave unless forced. Which is entirely bogus.