Maybe you are referring to sarcasm? (the use of words that mean the opposite of what you really want to say especially in order to insult someone, to show irritation, or to be funny)
In that case it's not about the word "awesome" itself, but the way any word is used in a sarcastic way, e.g.
A: "Your car was destroyed"
B "Great~! Awesome~! Just what I needed~!"