Fail Ops(Flops) is a parody name derived from the video game Black Ops presumably for its failure to deliver to expectations and just being riddled with bugs and other things that make it not enjoyable to play.
Kid 1: Dude, I got this sick double feed in Black Ops yesterday.
Kid2: Wow, you still play Flops? Trade that shit in for MW2, man.
2.) OMG, Black Ops is such a fail. It's full of lag, the hit detection sucks, the snipers are useless, and the matchmaking is horrid. They should just rename it to Fail Ops and Failarch.