A phrase stating that even though the subject is gone the intent of it will still succeed. Originally derived from a not-uncommon event in video games in which a player is killed after setting a time bomb, but the bomb continues to destroy the target anyway. It can, however, be applyied to anything metaphorically similar, involving exposives or not.
Player A: "Hah! Gottcha! Nice try."
Player B "Ah, I may be gone, but the bomb lives on!"
Player A: "What bomb?"
*Player A's generator explodes*
Player A: "SHIT!"