It basically means cool, amazing, fantastic (etc).
It started of as a typing mistake when someone wanted to type 'cool' but it came out as 'colo'.
It can be used on chat rooms or in real life.
Slang name for a drama infested movietheatre where most of the staff are unintelligent self-involved morons in the west end of Ottawa, Ontario, Canada.
Dude, the colo is such a shitty place to work cuz of all the tards I work with
A very sad, depressing person to be around. Often has murderous tendancies to his "friends" for no real reason, usually due to running out of fruit pastilles too quickly. May or may not be a cannibal
Seán: Hey Rob, have you seen that really Colo guy?
Rob: Didn't you hear, William knocked his Fruit Pastilles out of his hand, so he took out an Uzi and killed everyone. Then he ate their livers.
Seán: Huh