The word is an anagram for vevo, which has been created and spread around youtube.
Means 'vevo' which is a music video website, and has a channel on Youtube offering countless numbers of music videos from all genres.
People have classed it has 'Very evil' as they censor swear words and some words which shouldn't be censored, IE 'gun', 'kill', 'dead'. Also they all have loads of advertising on all videos which they get all the money from the advertisements, so they are selfish greedy unhearted bastards.
Also the videos they upload are relatively large files - so they take a while to stream. So there is alot of hate there for people with bad internet connection, making people class them as 'VERY EVIL'.
Hey vevo, you are a "Very Evil VIDEO Organization"
I hate this "Very Evil VIDEO Organization"
Who even likes this "Very Evil VIDEO Organization"