The word is from the beatles song "I am the walrus". It doesn't have any meaning, it was written as jibberish to try to confuse the speculative fans who always found "hidden meanings" in the beatles songs and album covers......because people are STUPID.
"...crabalocker fishwife pornographic priestess, boy you've been a naughty girl, you let your knickers down. Iam the eggman. They are the eggmen. I am the walrus. Koo Koo Ka Choo"
by Crab October 13, 2003
This has occupied Beatles fans and pop culture junkies for a long time. In fact the correct term is Crabber Logger and it was a large civil engineering machine which went out of control in an episode of Thunderbirds called Paths Of Destruction. it was first broadcast on 9th October 1966 (Lennon's 26th birthday) and repeated several times thereafter.
Crabalocker (Crabber logger) Fishwife etc. from I Am The Walrus.
by BorisThe Moth May 27, 2012