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1.
The phrase "mad shit" is used in slang vocabulary to describe something that is favorable or out of the ordinary. It is usually used among males in their teens to denote something which they see as awesome or cool

1) Ben: Yes!, the test is next month
James: Mad Shit!!, thank god

2) Ben: Holy shit man, did you see that
awesome trick he did on that bike
James: Hell yes man, that was some
mad shit!
by James8989 April 21, 2008
 
2.
The kind of shit that makes you feel as if you did something that made your shit angry, with no regard to your butt holes well being.
what did i do to deserve these mad shits?!?!
by Chupa Cabra June 10, 2005
 
3.
When you are taking a shit, you make angry or mad faces while pushing the feces out
Bob: Hey, what you doing?
Billy: Taking a mad shit.
Bob: Sounds very arousing.
by thelolguy November 06, 2010
 
4.
this term means "bad mouthing" write bad reviews about somebody.
I could'nt collect unemployment because they claimed work was still available when I quit. My brother says that my employer faxed some mad shit over to the unemployment office.
by Fidel Castro March 08, 2004