A term of endearment when, and only when, referring to the state of Colorado. The exact definition is as follows: Colorado is better than any other State in the Union, particularly New Jersey and Oregon (a.k.a Shit Hole and Land of the Covered Wagons Loaded with Shit and Shitty People, respectively.)
When used to describe other localities, regions or states, specifically New Jersey, it emphasizes the amount of shit that other states and/or organizations place, throw or otherwise dump on the aforementioned location. One can also correctly use this word for comparison purposes- i.e. "This place has half the shittiness ratio of New Jersey," which roughly means that the residents of such an area suck balls and lick choads for a living.
"Colorado, Second only sic
to New Jersey in Terms of Utter Shittiness." -Quoted from Cohen's Figure 1.1 titled "United States of America."
Meaning: Colorado fucking rules and New Jersians love to smoke pole, eat shit and die. There is also a subtle undertone of "Oregon sucks."