If something 'bombs', it generally means it was very unsuccessful. Does this make sense in the context?

Note that it's not standard English, it's slang. Among your resources, you should find a good online English dictionary--not an English-Italian dictionary, but an "English dictionary" of the kind English speakers use to find the meanings of words. My personal favorite is the American Heritage Dictionary. One of the meanings it lists for "bomb" is as an intransitive verb: SLANG. To fail miserably: "The play bombed."

It's a verb in that context. It exploded, or was destroyed, or had a disastrous effect. The movie did bad. In a confusing twist, if you use it as an adjective, that normally means it did good. "That movie was 'the bomb'," is slang for that movie was great.