This phrase is used to substitute a real time when it has become too late at night. Time is unimportant at the moment because of a number of reasons including: having a good time, becoming delirious from major sleep deprivation, too lazy to look at a clock/watch, etc.
Person #1: Whoa! I almost forgot I have to go. What time is it?
Person #2: I donβt know. Itβs Late O'clock.
Person #1: Oh well, see you later!
10π 2π
The time it is when you don't have a watch on and your date is getting uglier by the minute.
"oh, really? You're a vegan and don't drink alcohol."
"uh-huh. oh my wrist tells me it is Late O'clock. I have a thing in the morning. I'll give you a call sometime."
4π 4π
The time of day when you find yourself wondering how it got so late ... and then realize you've been having sex all morning/afternoon/night/week.
"Oh my God, that felt so good."
"Yeah, but we got santorum everywhere."
"Mm, what time is it? ... Holy Crap! It's late o'clock."
24π 10π
noun--It sounds like eight o'clock, but it is definitely much later. Like 3 or 4 in the morning late.
"Oh fuck! It's already late o'clock and I still haven't eaten supper."
10π 3π