From Homestar Runner Wiki
The Cakkalate is a simple solar calculator owned by Strong Bad. He seems to think that it is high tech, even though it doesn't have an equals button. Curiously, in the place where the decimal point would go, an asterisk is used, which is a symbol for multiplication. It does have a Memory Clear button, but no way to store or retrieve numbers in the memory. It has more window space than a regular solar calculator, and it somehow has the ability to insert spaces and display non-numerical symbols. Also, it can display at least 9 characters, while most solar calculators can only display 8. Strong Bad claims that it is "the future of technology" since it is wireless. Originally noted for its ability to display "53045 3080" as "OBOE ShOES" when turned upside-down, it is also able to display symbols like ⊥, ∩ and X, needed to display "BUTT X 2" when inverted.
The spelling is a reference to how Strong Bad pronounced "calculations" in space program.