Inebriated to a point where there is a strong tendency to fool around with dangerous implements. Appears to be of nautical origin and somewhat archaic. In modern usage, is often preceded by the phrase "Hey guys, bet you can't do this!"
"Me matey was fair grapplehooked" (archaic) "That student gets grapplehooked way more often that I do." (current)
by Nim Chimsky January 21, 2009