1. When someone makes a completely random guess at the time (i.e. 5:24) , looks at their watch, and it is that time.
2. When someone predicts when something will happen (i.e. in 7 seconds), and it happens exactly then.
Jill: What time is it? I'm getting hungry.
Bob: I don't know, like 5:24?
Bob: *looks at clock* Oh CRAP, I'm a time-jedi
Bob: I think we should proceed to have consensual sex in the missionary position.
Jill: Pfft, alright, but you're only going to last like 7 seconds.
**7 seconds later**
Jill: TIME-JEDI BAYBEEE