The "Double Hose" occurs only when an individual or entity is "hosed" twice. This can occur in one's personal or professional life. Please refer to the urban dictionary definition of hosed.
Example 1: Professional Setting
Sales Guy 1: I just had a 5 million dollar locked in with HP. HP would not get back to me on the financing and the customer ultimately decided to buy IBM.
Sales Guy 2: Shit. You got hosed.
Sales Guy 1: Worse yet, IBM told my customer they could not buy from me so I ended up not getting any part of the deal.
Sales Guy 2: Wow man...you got Double Hosed.
Example 2: Personal Setting
Friend 1: My girlfriend
just dumped me man.
Friend 2: Sorry Dude.
Friend 1: Yeah...she actually left me for my coworker that rocks designer jeans, armani shades, and likes the Cowboys.
Friend 2: Hosed man...
Friend 1: She also is blackmailing me with some pictures she found of me when I used to rock skinny jeans and a mullet.
Friend 2: Double Hosed Man!