Q:

What does "Knallerfrauen" mean?

Google translate doesn't seem to make sense with this word. I found this comedy show that I think It's hilarious, which its name is this word.
What does "Knallerfrauen" mean?

A:

Can't say better than here:

"Knaller"Frau is kind of a comedic approach. On one hand, it can mean
  a "hot" woman, but also a woman that is a little weird, in a loud,
  noisy and outgoing way. 
Alltogether, it is a mixture of "hot", "outgoing" and "strong".

Frau, Plural: Frauen

A:

"Knallerfrauen" is best translated with the word (she is like a) "bombshell", and is (rarely) used in the same context with a hint of humor in it.
Similar word context:

"Sie ist ein Knaller" (she is a bombshell)
"Ich bin verknallt" (I am in love)

The hint of humor comes from the fact, that "Knall" is also used to describe that someone is crazy: 
"Du hast einen Knall" (you are nuts)

A:

Knaller and/or Kracher also have been used to describe a "joke", most commonly on parties (mainly in the past, I think. 70's? 80's?).
This is highly informal and can be compared to "Schenkelklopfer", "Partykracher" etc.
I don't know if it is part of "Knallerfrauen" or a comedy show itself, but there's also something called "Ladykracher" which does, in my opinion, mean pretty much the same.
Both are Women making setup-comedy and the title describes this pretty much.

