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.
Shortening is a type of solid fat that is made from vegetable oils, such as soybean and cottonseed oil. Shortening seems to get its name from the fact that it shortens gluten strands in wheat by adding fat. Since it is 100%, as opposed to the 80% fat content of butter or lard, it results in a very tender baked good. It is frequently seen in baking recipes, although it is rarely used in other areas of cooking.