1.) like digital gatorade poured over a winning teams head!
used as a victory cry to compliment the team for a job well done.
like a digital energy drink.
equivalent to Gatorade or Orange Juice.

2.) the pool of blood left from a fallen enemy. typically a loudmouth idiot promoting his own 1337ness.
def 1 example:
super bowl victors get gatorade dumped on them.
"ZoMg! 1337 juice! (poured) We pumped teh n00bXoRz!"

"wow we are kick'n butt. someone drank their 1337 juice"

player 1: "Ready to Go?"
player 2: "sure. I just powered up on some fresh squeezed 1337 juice!"

def 2 example:
"Headshot! look @ all that 1337 juice, gotz squeezed from teh bad guy! LOL"
by Matches007 February 9, 2008
Get the 1337 juice mug.