This isn't your average "wow". The "German Wow" can only be applied to something so horrendous that it is almost as catastrophic as the world wars. This can be a reply to an extremely offensive or inappropriate comment or hearing news that changes your or someone else's life, usually in a bad way. It was invented by my family after watching a tv series where different countries compete in a series of physical challenges (Beastmaster).
Luke: "What did the German say to the Jew when they bumped into each other?"
Adam: "What..."
Luke: "I did Nazi Jew there!"
Adam: "German Wow..."
Or
Luke: "I recently found out my ex-girlfriend had sex with my Dad..."
Adam: "I'm so sorry man, that sucks."
Luke: "She keeping the child."
Adam: "German Wow..."