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2.
To be spooled suggests you don't really know what you are doing or what's going on, all you know is that you are stoked to be spooled.
what're you so stoked about? -- i'm str8 spooling on life (similar to stoked on life)

that spooler has gone bucklouie

i'm a little slow and spooled out today
by spoolicus March 03, 2011
 
1.
Hooking a fish that takes off, pulling all the line on your reel.
He was big 'un. So big that he spooled me, and broke the line.
by Scrivener July 04, 2006