| That bird actually looks like it's saying "Oh really???" |
These acronyms come from online chat/gaming.
ORLY - quick way to type oh really.
PWND is a deliberate or adopted typo of OWND (owned - to be thoroughly defeated/dominated; O and P being next to each other on the keyboard).
PWNT is a deliberate mispelling of PWND, echoing the typo which generated PWND.
So the name WTFBBQPWNT might be better expressed as:
What the F**k! Barbeque. Owned.
Translated (in posh English accent):
What the ruddy hell is going on? That fight was a veritable barbeque! I state for the record that I have thoroughly dominated you.