It's the combines Greek/Latin roots of the words, like, Tired-Horny-sad/depressed to form a word that can be used in a late night conversation for example, when you are tired and sad over or because of something, and also being horny.
:It was late and John Doe was in his room talking to his buddy Jane Doe
"Man, I so Hypnocornuperiluos. "
"The fuck does that mean lol"
"Im tired and I wanna go to bed. I'm so depressed and all I really wanna do is jerk off. "
"Type shit"