A phrase used in situations when someone of the same sex has done something which has lead to you admiring them on a level beyond the normal level of feelings between two heterosexual people of the same gender. This phrase is for use in rare circumstances when you are overwhelmed by the other persons actions that you feel a level of admiration near to the level felt by a homosexual towards someone of the same gender.
It originates from the phrase "no homo" but is an extreme version of the phrase, only for use in extreme circumstances.
Cindy :o!! You got me a date with the hot guy from marketing at you work place?? I love you babe full homo!!