Despite its spelling, it is used more like "Hell as Fuck" in both meaning and pronunciation- etymology and anthropological studies suggests that the "ass" was probably just added to increase the vulgarity of the phrase. It is used as a descriptive phrase to describe any noun which is "Hella Good/Bad" as "Holy Fuck", it can be used to describe both good things and bad things depending on context and how it is said- this is indicative of its origins as spoken vernacular.
Used to describe the most unsavory, injurious, disrespectful, satanic, cruel, and objectionable actions, events, and situations. It can be used as an interjection or adjective.
Interjection: "I heard there was some necrophilia going down over at Fifi." "What's necrophilia?" "You know - some like it hot, some like it cold." "Hell ass no."
Adjective: "Looks like we've found ourselves in a real hell ass no situation here."
To eat ass in the hell- is to rot in hell, for a short time, to have a terrible feeling of anxiety and hopelessness in that moment. To acknowledge you scream out "I eat ass in hell"
1) David ran to his car during the thunderstorm. He got completely soaking wet and fell into a muddy puddle. He screamed " I eat ass in hell"
2) Roger went in to Jerry's office and said I just got fired! Jerry said dude you eat ass in hell right now