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1.
A way of highlighting a spelling mistake
John: I'm goig too town latr
Jane: speeling!
by riga July 23, 2004
 
2.
An action word used to describe the time late at night when your mind fails to function properly, and various stupid and inane things become hilarious.
After staying up for 36 straight hours playing ping pong, Larry and I were definately speeling.
by Jay November 23, 2003