As creator of this term I can say the above is very accurate indeed.
A further explanation would be to exploit a weakness that as stated is so mind numbingly pathetic the victim should be shot.
Also the phrase "j00 h4v3 b33|V EPH PH1V3D (TBH) WTFL0L!!11one" is used to emphasise the fact that the exploit is so insanely easy, a 12 year old counterstrike player could do it.
Technical reasons: It involves sending far too many requests. It's effectively a denial of service... just a very VERY dumb one which originated on babblers.co.uk
see above for this l33t hax0ring genious.
To f5 something, is to exploit a weakness in a system that is so menial and stupidly pathetic, that the victim of the attick should be put in prison, as opposed to the perpetraitor.crashing hacking
Oh heh. I just F5'd babblers again.