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/bawl zuh LISH us/ adj.
Coined by Jon Stewart on "The Daily Show", in reference to colleague Stephen Colbert's performance at The 2006 White House Correspondents' Dinner. Bold, ballsy, courageous, and per this example, in a way that is shocking and impressive, e.g. "Colbert's searing satire was ballsalicious."
"He (Colbert) did this 20-minute keynote address that I can only describe as ballsalicious. He was something to behold. Apparently he was under the impression they had hired him to do the thing he does on television every night. ... Boy, we've never been prouder of our Mr. Colbert. And...holy sh*t!"

- Jon Stewart
by miz m August 15, 2006
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