In video games, when a player is using a weapon with laser sights as an attachment and you get shot by that weapon, it isn't uncommon to use the phrase. It is used when you are partially blinded on the screen by the sight, or all you can see is the sight from behind cover.
You can also replace the word fookin with either shitty, op, cancerous..
Player 01: "I just got killed by the douche with fookinlaser sights!"
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).