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2.
A combination of the two terms apocalypse and bullshit.

Apocalyshits refer to all of the so-called "end of the worlds" that were supposed to have happened, but simply turned out to be bullshit.

Hence, apocalyshits.
2800 b.c., 634 b.c., 389 b.c., the 1st century, c.a. 70, the 2nd century, 247, 365, 380, the late 4th century, 500, April 6th, 793, 800, 992, 1000, 1184, 1260, 1306, 1370, February 14, 1420, 1496, c.a. 1504, 1525, April 5, 1534, 1600, 1648, 1694, 1700, 1757, October 14, 1804, August 7, 1847, 1972, 1981, June 28, 1981, September 30, 1989, October 7, 1994, November 17, 1997, 2000, January 16, 2000, February 12, 2006, April 6, 2008, AND May 21, 2011 are only a few of the many, MANY APOCALYSHITS.

I will be laughing my ass off on December 22, 2012. ;D
by JSTK May 28, 2011
 
1.
The worst shit you can imagine.
Bill: I blew up on the toilet, it was an apocalyshit.
by Monkey Sling Poo October 15, 2011