#1. Overlord saw a awesome screenshot and said "Total Wangage" because he liked it.
#2. A man saw a cool action seen in a movie and said "Total Wangage"
when you're holding up your phone and making faces at it, as though you are taking a selfie, but you're really taking a picture of the person across from you or the wall or anything else that seems interesting but you don't want to be caught dead taking a picture of.
This action is often made more convincing by wiggling the eyebrows or opening the mouth, to pretend you're trying to get a Snapchat filter to work.