Verb: the act of watching a particular series (usually but not always anime) of episodes or movies in a row.
(especially the ENTIRE series at once)
Noun: the series to be watched.
Originated from Eau
Claire,
Wisconsin. It was created as a more polite/useable form of
mindfuck (which means the same thing) by the local university's anime organization. Apparently watching many hours of anime episodes straight does something to you in the head.