I don't like it either. It was all of a piece with the linguistic snobbery of growing up speaking English in India - if it was a neologism (and, as we've discovered, the Indians invented it!) we tru-snobs thought it beyond the pale. I can't count the number of arguments I had with colleagues (this was in advertising, and you know these creative types) about whether or not the word was 'allowed'.

On the other hand, as Faldage points out, it is a useful word.

cheer

the sunshine "I was there when preponement was born" warrior