An amalgam of "cunt" (term of endearment, Australian slang) and "gangbusters" (wildly successful).
A compliment, used in those rare situations where the word "gangbusters" alone can't encapsulate the level of out-of-control success one has witnessed.
1) Brett's bucks night is going absolutely cuntbusters.
2) Post-election analysis of inner-city Sydney and Melbourne reveal that the Greens' 2011 primary vote went cuntbusters.
3) 'Fever For The Flava' by Hot Action Cop went absolutely cuntbusters in the pop charts.