1.
Someone who swings both ways, e.g. a bi or bisexual.
2.
A person who behaves & acts like a member of the opposite sex. Also a person who wants to be more like a member of the opposite sex, e.g. a transsexual.
1. Neil: "What's the story with Jerry? One day he's dating that blonde, then last week I saw him out with gay Ken."
Bill: "Didn't you know? He's a two way adaptor."
2a. Hey, that guy acts like a real pussy - a two way adaptor if ever I saw one.
2b. I can't wait for my operation. soon I'll be transformed from Michael into Michelle. Meanwhile I guess I'm just a two way adaptor.
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).