The solution might be working but it's not a real fix.. better way will be to find why the button events are not triggering and fix the core of the problem.
Now to answer your questions.. PostBack is the term used to describe when the form is being submitted (posted) back to the same page. Simple as that.
Ordinary submit button would have been enough, but part of PostBack is the ability to identify which control triggered it, meaning what button or link was clicked.
To do such a thing ASP.NET
is automatically adding hidden fields to the form and when clicking on element that should cause PostBack, JavaScript code is used to update the values of those hidden fields to the proper values indicating what was clicked - the argument you pass.
The name Microsoft chose to give to the JS function doing the above is __doPostBack
- it's just a name of a function, ordinary JavaScript function that ASP.NET
automatically writes to the browser.
Hope things are bit more clear now.