m&v in the airline i work for, the two words the Captain will use prior to V1 for a malfunction will be "STOPPING" or "CONTINUE"....
Prior to 80 knots, the Captain should call "STOPPING" if an event occurs that would be undesirable for continued takeoff roll or flight - such as Master Cautions/Warnings, unusual vibrations or tyre failure.
Above 80 knots, the takeoff should only be rejected for engine fire/failure, unsafe configuration or other condition severely affecting the safety of flight.
If prior to V1 the Captain elects to continue the takeoff with a malfunction other than an engine fire/failure, unsafe configuration or a condition that would severely affect the safety of flight he shall announce "CONTINUE".
[This message has been edited by VH_KAM (edited 02 December 2000).]