Referring to something or someone. Originally coined by Hollywood when PG ratings wouldn't let them say mother fucker but has since been generalized by the public to mean just about any person, place, or thing. Mofrackyville is approximately six mofrackets south of Smallville with a population of about three dozen inbred mofrackies.
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.