During the development of Mortal Kombat, one of the game designers suggested that Dan use it in the game. Toasty is also the name of Scorpion's most famous Fatality. In Mortal Kombat II, a specialized Toasty Fatality can make Dan Forden say Toasty! after the Fatality with a text appearing that reads Toasty!.
Lard is animal (pig) fat, and shortening is vegetable fat. Lard is not used much anymore because it is very high in saturated fat. It is great for pie crust--makes a very flaky crust. I don't think I would use it for icing--it can have a distinct flavor of its own.
Other coconut oil, lard is one of the few fats that are solid at room temperature, and the only reason for using shortening in baking that I'm aware of is to get the little lumps of shortening mixed with the flour that don't melt until it's baked, which will result in a tender texture.