Hour-Glass'd or Hour-Glass'ing is the act of forgetting what in the world you were trying to remember. Typically used in place of "Brain Fart" to match a professional or more tame atmosphere.
I was trying to remember that chick I met friday night but totally Hour-Glass'd on her name. -or-
I was in a meeting with Jim CEO and I completely Hour-Glass'd on a portion of my presentation. When I explained that I was Hour Glass'ing rather than having a Brain Fart, the entire executive team seemed to appreciate my tame explanation