1.The root "dick" refers to the male genetalia in reference to "jacking-off" which can either mean mastrabation or for our purposes, not getting much accomplished.
2.To be "dicked-around" can mean to recieve "the short end of the stick" however deeply one may have been "dicked".
Sometimes considered offensive because of the reference to top-bottom dog mentality through alluding to male homosexual relations when used by a male refering to another male.
1.Nic and I meant to go study at the library but instead went to the bar dicking-around and hung out with some nice young ladies.
2.Tony really dicked-me-around when he should have, instead, given me two-hundred dollars for the amplifier.