A project or incident that has gone totally wrong.
I fed my dog chinese last night and i woke up to a complete craptastrophe in my den.
John and I worked late and tried to fix the Holt project. After 6 hours its still a total craptastrophe.
From what or whom isn't as important as the fact that the end result is disaterous and messy. Generally requiring a minimal cleaning time of 30 minutes.
A fine example of a craptastrophe is an explosive shart.