A new linquistic burp akin to words like "fail" and "epic" and "420" that seem to be trending among the lemmings these days.
"Hey, any idea what new word will make me look like I'm with it?"
"umm -- how about 'awesomesauce'?"
"what does that mean exactly?"
"Nothing - just sounds like you've been around others who use it and therefore part of a larger group"