very strange... if the switch was off then power could not have been traveling through your psu... unless it was a serious surge, it would have to be huge though for the electricity to arc between the contacts of the switch... but it would have to be huge, many other appliances on that circuit would have been damaged too.
i guess a capacitor may have discharged somehow, that could explain the pop and it would have done some damage... does it smell burnt? that would be the best way to tell... if there was a pop, there will be a smell, even if it is slight.
another way electricity can make it into your system is through your ethernet cable, however the damage would be to your motherboard most likely.