Outside of the no-good, thieving character from greek mythology, Pandareus has become an intellectuals way to define someone as a "panda wuss" without using such lowbrow words. Pandareus is a soft, weak and morally objectional creature with no redeeming values. While calling someone a "panda wuss" is more common, the term Pandareus is used as a way to insult someone while in mixed company. A subtle jab that will often go unnoticed except by those who are in on the joke. Using the highbrow terminology for "panda wuss" is also an effective way of establishing intellectual superiority over those around you.
"I can't believe he backed down like that. That is a man of major Pandareus qualities. If you know what I mean...."
"He hasn't done an honest day's work in his life, he's a Pandereus of the worst kind."