1.)
Dwow is an expression used in situations containing sexuality. For example, if during a film a female character says "It's hot in here, I am taking my clothes off", that would be a good time to yell out "DWOW!" This expression is usually used for comedic purposes.

2.)
Dwow refers to a penis.

The act of extreme masturbation. You must "knock one out" whilst in close proximity to any of the following; Your mum, a nun, your boss, a member of parliament, George Michael. A person with capabilities to act upon catching you mid self-abuse obvisouly ups the ante. Ejaculation must be reached before your danger wank target comes (no pun intended) to investigate. The higher the chances of being discovered with one's pants down, pulling one's war face is obviously where the danger comes from. The more danger involved the harder (or softer) it is to complete the task in hand (snigger). The more dangerous the better. The chance of being arrested, pummeled by an angry father or having your hand severed by an arab's sabre means that you are a pro "Danger wanker."

'Dwow' is a funny way to pronounce wow. It is used in ridiculous or funny situations.