Kernel Panic

I got this message in my work email yesterday:

"At 4:54pm today 8/10/07 the server tvl-gatcf3 abended due to a Kernel Panic."

I barely know what "server tvl-gatcf3" means. I had to look up what happens when it "abends" (but I'm not sure I actually understand it) and I haven't a clue what a "Kernal Panic" might be.

I sometimes get the feeling that the tech-support people are going out of their way to make up new words - just so they can maintain their mystique.