1) a smash of words equaling Quadruple; multi tasking; playing; and stats. the ing, ness, and ism signify the act being done on a "sort of" basis...
2) its a computer user term that describes that you are too busy to reply to an IM or a tellephone call beacuse your multitasking at a Huge level.
*in an IM message*
~5 min later~
person2- sry im Quadmultiplaystacsticingnessism
person1- haha no worries... me too...