This study reports effects of meaning and emotion (taboo vs. neutral words) on an illusory word (IW) phenomenon linked to orthographic repetition blindness (RB). Participants immediately recalled rapid serial visual presentation (RSVP) lists consisting of two critical words (C1 and C2) containing shared letters, followed by a word fragment: for example, lake (C1) brake (C2) ush (fragment). For neutral critical words, participants often recalled C1, but not C2 or the fragment, reporting instead a nonoccurring or illusory word: here, brush (a blend of C2 and the fragment). Forward RB (defined as reduced report of orthographically similar C2s) was more common for neutral than for taboo C2s, and taboo IWs were reported significantly more often than were neutral IWs. Moreover, when both C2 and the potential IW were taboo, a new phenomenon emerged: Participants reliably reported both the IW and the intact C2. These and other results supported a binding theory of the IW phenomenon and orthographic RB.