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1.
The "New Coke" of the 21st Century. An answer to a design problem that no one had on the website Facebook, spearheaded by Mark Zuckerberg.
"Dude do you like the new Facebook?"

"No, I think it blows big-time"
by HeyitsAC September 22, 2008
 
2.
Slow. Often works over time to achieve the same result as the "old". In many cases, it evokes finger tapping on laptop keys caused by a release of adrenalin due to the fact that one should be typing already.
Sorry I'm late. The New Facebook ate up all my time.
by Julia Gulia (yep..same person) January 13, 2011