Oreo cum is the combined cumshots on the cookie that guys use when they're playing the masturbation game, Cum-on-a-Cookie, which the last guy to cum has to eat.
We played Cum-on-a-Cookie, and I lost, so I had to eat the Oreo cum!
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.