1. Often used by uncool people who do not understand how to use the word 'cool'. Often used by teachers over the age of fifty.
2. The word can also be used by very cool people in a mockery of those who use it. Can be used in situations where the subject being listed as "very cool" is actually incredibly uncool. This makes the subject feel cool, yet everyone knows that the subject is being made fun of.
"and that class... is how you solve an unbalanced chemical equation"
"very cool" (said in an excessively disrespectful way)