When someone is expressing a large magnitude of rage, often over something relatively small, that the stress they are giving upon themselves causes their hair to fall out (thus, balding). Portemanteau of "mad" and "balding".
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.