The word used my all the cool peoples to insinuate something that is better than everying else and awe inspiring. Synonyms are Cool, Shibby, Sweet, Awesome.
"Holy Crap, that is freakin Awexome!"
A group of street thugs borne from the recent Strong Band Email from Ry-guy, who closed his email with the tag line. "peace out my dawg foo gangsta yo" with the Great and Awexome Strongbad mistook as Dog Food Gangsta, which spurred him to ask, "Ought I be offended"
"Dog Food Gangstas:
Canned or Dry,
We Neva Die"