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2.
A person, object or event that, at first appeared to have merit, but on closer inspection - or with the passing of time - was revealed to be a bit rubbish.
Your mullet is awsful.
by Tom Cavill January 25, 2008
 
1.
When someone wants to qualify a situation or sth else in a hesitated frame of mind, 'awsful' can be pronounced undecidedly in terms of moment.
Combination of adjectives "awesome" and "awful" ^^
B man who is platonically in love with R woman expects her not to sleep with his best friend, due to an arrangement which could solve such a sexual tension that 'otherwise' would cause a fight between them .
P.S. 'R girl has no idea about feelings^^.

R - .. and uhm, a little arrangement is .. over, btw ^^
B - Really, That's aws..ful
R - Awsful?
B - Yea, aw|esf|s|ful. What happened?..
blah blah..

Reference: How I Met Your Mother|Se 4 Ep 12 19:26 - 19:39| (sit-com based TV Show on CBS American Channel)
by HolyManner June 07, 2009