I will give it a shot, bro. I have seen the term applied to 3 different techniques.
The old timers would place the tip on a hard surface, with the arrow vertical and give the nock end a spin. Observing the shaft, head junction would show a wobble if the the shaft was not straight or the head was mounted crooked. But this only works with "needle" points---the chisel tip on my broadheads induces a wobble independent of the shaft.
Another technique is to rest the shaft in a "vee" formed by placing a thumbnail against the palp of the index or long finger, then spinning the other end. A straight shaft will just spin, a crooked shaft will jump up out of the vee.
One can also rotate a shaft slowly in some type of jig, consisting of paired v-blocks or juxtaposed rollers, with some reference point positioned near the end---a straight shaft will show no up and down movement of the tip (or nock). The bow catalogs sell a couple of models, and some shaft straightening devices and spine testers incorporate such a jig.