Assumed to be a play on 'blitzkrieg' (meaning 'lightning attack', the term for the WWII German panzer warfare characterized by quick movement, capturing enormous areas of land, and brute force.
The disgusting shit you get the morning after drinking a lot of cheap beer. It can be identified by the way it comes out all soft and mushy. It may feel like diarrhea but it usually appears like normal shit. Also, you'll need a couple hundred feet of toilet paper.