No, not that wally, I mean the term of affection that was used to address us for most of our childhoods.
When we complain that the youth of today speaks a different language we should remember how ace everything was when we were younger, or even ace dos.
Pac-man and Donkey Kong were brill, and wizard, and school was naff.
People we didn't like were spazzes, or even worse they were dicksplashes.
We discovered that shit happens and then you die.
Some of us would rather have been red than dead, or the inverse, I can't remember.
All this colourful language is lost (fortunately?) on the youth of today, so avoid using it amongst the digital generation, nothing will make you look more like a plastic boho.