1.)Another word for cool/kool/kewl. But a cooler way and more unique. Also means 'that's awesome!' and 'radical'.
2.)Also something you say when you don't really care or when your not listening but you say it just to sound interested.
1.)Girl 1: I have mood nail polish.
Girl 2: Koolioz
2.)Boy 1:I just got C on my math test.
Boy 2:Koolioz (boy 2 got an A) :P