It refers to something which is extreme in nature.
comes from O.D.
Ed: Yo you see that fight last night?
Fred: Yeah, that kid got fucked up. Shit was O Diesel.
A term refering to Facebook, the extremely popular social networking website.
Fred: Yo what are you up to this weekend?
Ed: Nothing, you?
Fred: I'm throwing a party at my crib, I'll hit you up on The Book.