It's a play on the Mortal Kombat "Flawless Victory". I thought it was pretty clever.
On that note, I have never seen a transformer go bad. When you say "Everything went dead", does that mean you have no coin lights, no marquee lights, no cabinet fan, nothing?
If so, you may have two unrelated problems- the video AND the 110v. I agree with the previous posters-- probably a blown fuse or flaky connector. I don't think MKII cabs had a kill switch, AFAIK, but it wouldn't hurt to check.
APf