Reverse recovery time. This is how long it takes the diode to switch from conducting to non-conducting mode. If forward current is going thru a diode and you instantaneously change the voltage so that the diode is reverse biased, the diode will actually conduct in the reverse direction for a little while before it shuts off.
Now think of when this situation occurs when driving a coil. If the coil was recently turned off and the flyback current is still flowing thru the diode and the coil driver is switched on again, then there is a short from the power supply thru the diode thru the coil driver until the diode catches up and stops conducting.
If you are driving something slow like a relay, this probably doesn't matter since the time from off to on is always long enough that the flyback current has died down. However, in something like a switching power supply or a solenoid or motor being controlled by PWM, the off to on time can be a small fraction of the flyback current decay time. In that case, you have to consider this carefully.
Big fat power diodes meant to rectify line frequency (50 or 60 Hz) can often have substantial reverse recovery times. Sometimes the datasheet doesn't list this spec at all, since if it matters, you shouldn't be using that diode. Try finding the reverse recovery time of a 1N4004, for example. I just checked the On Semi datasheet, and it's not mentioned. It even calls these "standard recovery" diodes, which is marketing speak for "These diode are slow, so slow that we're too embarrassed to even tell you. But instead of being up front and calling them "slow", we'll call them "standard" and then everything else we sell will be "fast" or "ultra-fast" or "super-fast" or "turbo" or whatever other terms our interns can dream up because we think you're dumb enough so that giving something a cutesy name will make you buy more of them.".
There are rectifier diodes where reverse recovery has been taken into account, sometimes with terms like "fast" or "ultra fast" in their names. Don't use the names to guess speed, but at least the actual speed will be listed in their datasheets. For small currents, you can use small signal diodes, like the 1N4148, that have reverse recovery time of only a few nanoseconds. Schottky diodes are usually so fast as to be effectively instantaneous to most circuits.
Best Answer
That MOV won't protect other circuitry from back EMF from the motor. The diode will practically short the MOV. (The diode will start conducting at about 0.7 volts while the MOV can only start conducting above the 84 volts supplied to the motor.)
I wouldn't suggest using a MOV to protect against back EMF, because a: they're non-polarized (the -84V vs -0.7V issue) and b: they wear out and will eventually fail.
The diode will be conducting very often and stealing 0.7V*90A=63W from the motor when the PWM level is zero. It may sound like a lot of power, but it's below 1% of what is fed to the motor.
That diode would probably need to have a fan for cooling it, or at least a heat sink.
And it also needs to be rated for at least 100 Amperes. The inductance of the motor "wants" to keep conducting the same current and when the voltage is removed from the motor, it turns into a generator that pumps out the same 90 amps, but through the flyback diode.