Much like the 'Moths Of Death', the emotional termites are another insect analogy to having an awful feeling about something.
Hayden: Hey Andrew, how is the web of insanity working out for you?
Andrew: The Moths of Death have been exterminated and replaced by the 'Emotional Termites.'
Hayden: Oh no, that's bad. That's as bad as it gets! You gotta seek help man.