Basically when you run the motor up, then let up, or shift. The Turbo is still compressing charged air. But the motor is no longer able to combust or for lack of better terms, use the air that has been charged, as a result of a WOT scenario. This causes the compressed air to seek the shortest or quickest escape route out. On Turbo charged race engines, typically in a gasoline powered vehicle. A dump valve or diverter valve is typically installed in the pluming the charged air uses to enter combustion, usually from the chilled air coming from the intercooler. This dump valve allows the air to escape, rather than backing up to the Turbo and causing the Turbo spindle to snap or break.
-Ryan