Used the same way as no homo
, but used to make something threatening seem less-violent or to show that you are just kidding.
"I want to beat Kevin with a crowbar until he screams bloody mary, no psycho."
"Dude this week at the office has sucked, I totally see why people can shoot up buildings, no psycho."
"Seriously though, no psycho and all, Josh is just asking to be shot wearing all that blue and throwing C's up."