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Terms like FUBB are considered part of Internet slang. As acronyms, they may be used in digital forms of communication like IRC or Internet chat sites, or instant messaging environments. These kinds of terms may also be used by IT professionals in talking about certain hardware setups or other IT problems that have become complex and difficult to manage.
In particular, using the acronym FUBB can simply indicate that something is broken. For example, an IT professional might say that someone compromised a server environment, and now one or more servers are FUBB. The exact use of these kinds of terms depends on professional standards in IT environments and the atmospheres that are created by companies and employees.