relating to something that is completely rubbish. Compare with 'panorama' to describe a wide angled scene, 'pants-o-rama' is used to describe an all round wretched situation.
Filmgoer: "Showgirls was a great film!"
Response: "WHAT???! Except for the high breast count it was wall-to-wall pants-o-rama! Muppet."
Computer User: "This software doesn't work."
Response: "That's beacuse it's pants-o-rama! Muppet."