This is was orginally a British phase meaning one is either extremely intoxicated or angry, the latter has been adopted by Americans.
Drunk: "I got so pissed in town last night, Satan's Hallow FTW"
Angry: "Sorry about last night, i was so pissed-off at my parents"
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This is a British phase and is used in the past tense, it means that one beat-up another, however it is also used to descirbe a single yet dramatic hit.
"This chav was all up in Dean's face, so he twatted him, right between the eyes"
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