This word is from the old days when blacks were segregated from whites. It describes a very good-looking person who has been seen from the opposite race as attractive. Someone wants to be able to talk to this highly attractive person from the opposite race, but they can't because of their race. Now-a-days you are able to pull a Loiodice because there is no more racism.
A black man finds interest in a white woman. This is a Loiodice.