OK looked at your ref, wiki. The term just refers to the type of plug.
Where was the fuse you replaced located.
Did I read you correctly - You switched your belkin strip Off, not the rocker switch located on your PSU.
Yes the Belkin Switch could be defective. Two things with switches. When you open them, they do not instantly open as they start to open they can have a short time where an arc will occur until the gap between the contacts are far enough apart. This is in micro to milliseconds. The second problem that can develop is called contact bounce. This is where the contacts close and open a couple of times before remaining closed. Both conditions are undesirable. At work we have had to pitch some brand/models of power strips due to know problems. In both of the above cases the problem is the power is on/off/on or visa versa. This relates to what is referred to as "In-Rush" current.
In Rush current is the current that is drawn when you first turn something on and is very short in duration. Example: I have to measure the In Rush cuurent for three PSU suppling power to a satellite instrument. Normal current is Very low, 1 Amp on one and .05 Amps on the second. I measure (Clamp on Amp probe to O'scope) about 4 to 6 Amps for several Millisec. A regular light bulb has a very low resistance when AC is applied, But as the wire heats up the resistance goes up and the current goes down if not you would need Very large fuses for table lamps.
As you noted 650/240 = 2.7 Amps But the fuse used is a 5 Amp. If a 3 Amp fuse were used, Normal current would not blow it, But depending on the initial surge duration it might blow. This is also why "Slow Blow fuse where invented, Takes a High surge current and will only blow if the rated current is longer than X time.
Sermom over - IF Arch was inside your computer, and it is currently working I'm betting it was the Input protection circuit in the PSU. This is simular to what is inside a surge protector - They can make a loud bang and blow open - Basily they are a one shot protection device - Last long enough to protect one time.
Put 2 to 2 together - The plug end got its name because it was used on the electric tea kettle popular in England - O'well blew that one.
Good luck - Swap out the Belkin power strip (if that is what you turned on/off). If NO burn marks on MB and Computer components, See if you can open up the PSU and look around in it. If nothing is found I would not take a chance, I'd swap out the PSU.