To be specific, it's just the # hack, or fragment hack if you like. The bang leading the fragment is a Google-specific thing to help the Googlebot crawl your content.
<strike>No, timb was referring to HTML5 history api. It makes possible to alter the path component of a URL by javascript, eliminating the need for # hack. Try browsing repositories on github with WebKit-based browser to see a real world example.</strike> (sorry for my misreading)
http://stackoverflow.com/questions/3009380/whats-the-shebang...