Like the word pwn, this is just a variation used to make your sentences l337. Using uber in front tells the recipient that they got extremely pwned instead of just regularly and the zorz is used to intensify the word.
C4ptain_Krunch: Zomg I just took out their entire TEAM!!!
ChUcKNoRRis74: THey alls nub!
C4ptain_Krunch: U all got Uberpwnzorz!!!1
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.