1. (N) A way of pronouncing the chatspeak term "omg" outloud, without spelling it phonetically. (As in, "Oh-Em-Gee!!") Used in casual conversation, especially if the circumstances aren't really surprising.
Since the term and chatspeak omg denote real, true surprise, "Awmg" usually denotes a lack of real surprise or sarcasm.
Originally used in the flash animation from newgrounds called "Lnkn Prk Kem 2 mah Hse 1 dai"
First person: "You know I bought a PSP yesterday, right?"
Second person. (flatly) "Wow, awmg."