Definition from Wiktionary, the free dictionary
Alternative forms 
- (a success): da bomb
- (informal) The atomic bomb; the capability to launch a nuclear attack. Often capitalized.
- Pakistan and India both have the Bomb now.
- (slang) A success; something excellent.
- Their new record is the bomb.
- That party was the bomb!
Usage notes 
The two diametrical slang meanings are distinguished by the article. For “a success”, the phrase is generally the bomb. Otherwise bomb can mean “a failure”.