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1.
Inside joke between the most amazing couple in the world. They're anniversary is Febuary 14th, hence 214. And the word bad comes from the letters spelled out on a phone.

(2=B, 1=A, 4=D)

There are often words, such as hella, put inbetween 214 and BAD, to exaggerate how close and tight of a couple they are. In this word, Bad = amazingly perfect together.
Joseph: "Baby, i love you"
Victoria Beckingham: "Hun, i love you too. 214WEBAD!
by WIFEEEEEEEY February 07, 2011