[IBM, probably from slang belly up] Yet another synonym for "broken" or "down". Usually connotes a major failure. A system (hardware or software) which is "down" may be already being restarted before the failure is noticed, whereas one which is "casters up" is usually a good excuse to take the rest of the day off (as long as you're not responsible for fixing it).
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Nearby terms: cashe « CAST « cast « casters-up mode » casting the runes » CAT » cat