A Ragerbomb is a twist on the classic Jagerbomb, where instead of a shot of Jagermeister in a glass of Red Bull, it's a shot of Red Bull in a glass of Jagermeister.
"Hey man, I got so wasted last weekend it was unreal."
Moderately good; Used to describe something that the observer views somewhat positively, but without enthusiasm. Appropriate when lit is too strong of a word to describe the situation.