Glam + amazing. When something mundane is made amazing by a ridiculous amount of glamming up, or when something is so classy and wonderful that it couldn't get any more amazing. A more feminine version of manificent.
Did you see this month's issue of Dazed & Confused? The covermodel's headdress is glamazing.
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).