An adjective used to describe a person who surpasses all human expectations, whose genius blinds all those around, who sets the supreme standards for humans to strive for, who is an Ideology all by himself.
An overused adjective intended to denote something as "cool" or "great" but instead winds up meaning "lame." This is actually a reflection of the lameness of person using the word, the degree of which is directly proportionate to difference between the user's perspective of the so-called awesome object / person / situation and that of a reasonably sober, well-informed observer.
"Bono is awesome."
"This pizza is awesome" (when the pizza in question comes from a food court at the airport)