This term has been a mafia-ism for many, many years, at least since 2002.

Where on earth does it come from?  There has been a bar named after it (very amusing). 

Also - pwned in the gace!  Though this is seldom said now-a-days...

And Falure!  What are the stories behind them?

I haven't a clue about the monkey thing but.. I love it.

As for the Falure! I think that was a spelling error back in the old days of .org and well.. they just stuck with it I think.

I'd assume it originated from "Click monkey"

Refreshing Monkey comes from one of those pre-WWW terms, Refresh Monkey.

Someone who visits a regularly updated website and uses their browser's refresh capability frequently in an effort to view the updated content as soon as possible after it is posted. This especially applies to sites where the updated content includes a feature such as a message board where fans of the site try to get bragging rights by making the first post (aka fipo or fpotd).
You generally have to wade through several "first post" attempts from refresh monkeys before you get to the first real discussion.

Also see w00t and n00b.

What are the origins of w00t and n00b?

The word gace originated from a conversation between Camazotz and gregz0r after they had bet on a horse in the Cheltenham Gold Cup. Although I can't remember the name of the horse exactly, I can remember that it was wearing a jaunty hat. As the horse was romping past the finish line gregz0r stated "FUCK YOU PADDY POWER, FUCK YOU IN YOUR FUCKING GACE".

It took about 4 months of constant use by us to get it into the MR lexicon, whereupon it was bastardised by some rather ungainly chaps who put the word "pwned" in front of it.

The gace was all the face wanted to be, and more.

It also won the pair well in excess of $300.

Happy times.

The first of many to be bastardised.

RIP.

Speaking of Lexicon, anyone remember that fine Birmingham woman who first guided me through .org?