Best way to define this multi-use term is by looking at some everyday examples:
"You've been palletized!" (see: fucked, scammed, ripped-off and the like)
"Palletize this, bitch!" (expression commonly performed in public whilst grabbing one's crotch as a taunting or provoking remark to someone else)
"Dude, I'm so palletized right now..." (see: stoned, completely drunk, utterly screwed, etc)
"Did you hear, that poor boy was palletized by a gang of thugs the other night!" (see: raped, killed and/or pillaged)
"Resistance is futile. Prepare to be palletized." (see: prepare to be assimilated)
"I think we're all a little palletized right now, so we just need to chill out." (as in a heated situation or argument full of tension, anger, and/or emotional turbulence; see: anger management, stressing out)
"Yessir, your bike will be fully palletized once loaded onto the trailer." (when shipping motorcycles; better, easier and cheaper than crating your bike!)
"Jesus was palletized to the cross." (see: crucifixion)
Need more examples? Here's some more:
"You are now officially palletized, my son." (see: circumcised, castrated and/or becoming initiated into a fraternity)
"Dammit, my computer got palletized again!" (see: computer freezing)
"Yeah, my mom had an accident: she fell down the stairs when she got home after being ran over by a bus on her way to the groceries. Now she's palletized at the hospital." (see: hospitalized or being sedated or under coma)
"INITIATE PALLETIZATION SEQUENCE." (robo-computer command to render target immobile or otherwise obliterated to smithereens)
"Oh yes, baby, palletize me harder!" (see: sexual intercourse, penetration, BDSM)