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1.
In New Zealand slang, short for 'Orsome', which is itself a gloss on 'Awesome'. As such, it is synonymous with 'Awesome'.
Stay Orse!
by hugh___jass March 13, 2012
 
2.
I really, really, unusual, rather comically-gay way of saying 'arse', or 'ass', or 'butt'.
X: So what?

Y: ORSE!!! ORSE!!!!
by Loser of the world November 06, 2006