It's a saying basically for someone to stop saying that someone is "stupid" because they are probably right behind him/her.
Like in the movie, The Lion King:
Ex - Zazu says ixnay on the oopid-stay, to warn them to stop calling the hyenas stupid because they are right behind them listening. (He just says it in pig latin.)
Oepidus is a typo. The correct spelling is Oedipus.
When he was born, it was prophesized that Oedipus would grow to murder his father, and marry his mother.
When he grew up, he learned about his destiny, but belived that his ADOPTED parrents were his biological parrents.
Eventually, he ran into his real father and after a dispute killed him. However, Oedipus was able to save the city of Tebes from sphynx and was offered his mother's hand in marrige.
A oujidere is someone (typically male) who wants royalty even from their lover .
Guy 1:hey instead of being here lets go with that other dude.
Guy 2:yeah
Oujidere:no you will not you serve me not them i expect loyalty from you both.