We were in need of something semi-unique to credit sources on the web that would not otherwise be linked to. It will generally be used when stories would not otherwise have come to our attention through ordinary news browsing, but the source is not quoted separately.
It was inspired by the "WWC High Five" and the "PaulSchafer.com thumbs-up."
In development, the phrase reached even beyond the wordiness of "Observant Observations Ominous Ovation" before eventually becoming "Observant Ovation."
You have been warned...