Quoted from FreeBee:

Indeed it's for the final wizard mode, just to confirm everyone here.
I've been able to get it many times, but only once in a game. Got close to two times, but that honor still goes to my colleague. I'll need to get at least two Monsters of Rock before I'll beat his 950.000.000 or so score. Grr.
Monster bash: Start all monster modes and light their inserts (you don't necessarily have to finish them). The scoop will then light monster bash, to shoot for the scoop and start the mode. A very effective way of getting the instruments lit as well is to start more monster modes, and then start the monster bash mode. This way, you'll be able to finish the monsters in the multiball as well.
Monsters of rock: Start and finish all monster modes (get the monster AND the instrument insert lit. The scoop will then light monsters of rock, to shoot for the scoop and start the mode. Every complete set of instruments is worth 25mil points, so if you beat every monster twice before starting monsters of rock, you'll get 50mil extra. Correct me if I'm wrong.
Lyman's lament: I know this only as a cheat, and I've never gotten it though shooting the scoop 44 times. Seems impossible. Anyway, the cheat is putting in a code when the ball is in the through ready to be fired. The code is as follows: B, 11x L, R, 5x L, R, 6x L, R (B=both flippers, L=left flipper, R=right flipper). After the code, the machine says 'Totally'. Then after firing the ball, you have to hit the scoop once. From then every switch hit is worth an additional amount of points counting towards your bonus at the end of the ball. It will also say hilarious callouts when you do stuff like almost draining by not making a ramp for example. It's more of a gimmick, as inputting the code each time gets tiring.
I really like this pin for the great music, theme, and modes. Well thought out design really!