14 DAY TRIAL // A Google bomb (also referred to as a 'link bomb') is Internet slang for a certain kind of attempt to influence the ranking of a given page in results returned by the Google search engine, often with humorous or political intentions. Because of the way Google's algorithm works, a page will be ranked higher if the sites that link to that page use consistent anchor text, according to Wikipedia.
If that didn't clear the things up, here's the shorter version: people tag a certain site with words not even remotely connected to the content. It will get a big boost because of the search ranking, but it will also clearly show the Internet community's (or some of it) disapproval of the owner, message and so on. The first ever recorded was for the search term "more evil than Satan himself," bringing up the Microsoft homepage as the top result.
George W has been a target because of his, well, because of him. His former term was "miserable failure," but everything was fixed in the algorithm update that came late last December. There would be no political humor except for Georgie, who is a complete joke of a man according to his biggest dissenters, so now searching for "who is a failure" (there seems to be some common ground for the two) will bring up once again his page, as Danny Sullivan from Search Engine Land noticed.
He also point out that this can't be a Googlebomb in its fullest because it lacks the people pushing to make this happen, drawing attention to the joke. No point in being funny for no audience whatsoever. The Google team that worked on the previous fix should take a closer look at this one because it might give them a lot of trouble, should the links with anchor text saying "failure" making the President's page come up for any number of terms combined with "failure."
P.S.: The video is really funny, i just had to share it.