I think its time to bring the curtains down on this discussion. I initiated it partly because it has a certain shock value and more because such discussions really take us back to the basics (like something sniper initiated)
The starting point is the series 1-2+3-4+5-... Many of you would have been puzzled because you know for sure that this series is divergent because for odd number of terms you get a positive sum and for even terms a negative number. And we get on the other hand, that the sum works out to a definite number 1/4. Usually, we tend to discard such a summation as being divergent and hence not worthy of our interest. But not some mathematicians.
Like some chap called Cesaro who insisted that 1-1+1-1+... had a sum. It equalled 1/2 !! He argued that if you take even terms you get zero, and if you take odd terms you get 1. So the sum averages out to 1/2.
A similar argument is used with the sum 1-2+4-8+... it "averages" out to 1/3.
Does this have any meaning? Yes, and in all places the real world. It appealed to the intutition of Leibnitz that when nature was confronted with such choices, she would choose their average. You have already heard that such a thing happens in quantum physics that the quantum wave function is actually a weighted average of possibilities.
This is just one method of summing up, one that is useful in such cases. There are other methods like Ramanujan Summation which was used in this particular case of 1-2+2-4 ..
And so, it is in physics, especially quantum physics where such divergent series routinely turn up and are dealt with in this way to produce results that agree with observations.
That's how mystical mathematics can get.
Please forgive me if I have wasted your time. But, if you want to read more on such stuff, read it on wikipedia. I found starting from keyword Abel summation gives a lot of info.