Yes, it is "swearing." Don't be fooled by what you see on TV. Everything is overdramatized on TV. The "F-bomb" is still the most taboo word in the English language. Despite the fact that you hear it everywhere, don't try to use it yourself. The cultural rules on when it _might_ be OK to use it are complicated. It is a word that can cost you your job... or worse... if you say it in the wrong time and the wrong place and in the wrong way.

This word has transformed the English language. While at one time considered nothing more than a swear word, and still is, it has become a descriptive term in urban culture. While not used by kids, it is as adults to describe as you say, almost everything. I read an article some time ago about the word, and apparently it is the most versatile word in the English language. Its used as a verb, adjective, noun and adverb. And can mean good, bad, like, dislike and everything in between. So true, its a word you don't learn in English class, but one in which you will encounter more often than most !

Many people use that word, and it's not always rude in some social situations. But there's a big difference between informal words like "cool", "what's up", etc. and swear words, which can cause a lot of shock and embarrassment. This is 100% a swear word! As Dan said, it's very difficult to know when that word is okay to use, and when it's not. So please avoid it until your English is very good. Even then, please remember that there are millions of English-speakers who never swear at all, so you don't need to swear to sound "natural". Yes, you need to understand that word, but no: you don't need to learn to use it.

It is swearing and is mostly used by adults but depending on context it can mean that you're so excited you can't help but swear, or you might be so mad that it might just come out. Hope that answered your question :)