It refers to a situation when nothing is absolute or certain yet, when things are still in the process and one cannot guarantee what the result would be like.
"I am not sure what is going to happen. It's still a who-who situation."
"I have not made my mind about this yet. It's still a who-who situation for me."
"They might be in a who-who situation, let's give them some more time to think."
"You are still in a dilemma? Wow you are such a who-who"