The Collaborative International Dictionary of English v.0.48:

Toast \Toast\, v. t. [imp. & p. p. Toasted; p. pr. & vb. n.
   Toasting.] [OF. toster to roast, toast, fr. L. torrere,
   tostum, to parch, roast. See Torrid.]
   1. To dry and brown by the heat of a fire; as, to toast
      bread.
      [1913 Webster]

   2. To warm thoroughly; as, to toast the feet.
      [1913 Webster]

   3. To name when a health is proposed to be drunk; to drink to
      the health, or in honor, of; as, to toast a lady.
      [1913 Webster]

WordNet (r) 3.0 (2006):

toasted
    adj 1: browned over by exposure to heat; "he liked toasted
           marshmallows"