Ok, I'll try to explain it this way... "to be in the swim" is an informal expression meaning "knowing about and involved in what's happening in modern life" if someone is "out of the swim" it's the opposite, they do not get it, have no clue what's going on around them. Just like me :))) I was away for 3.5 years, just came back and have little idea of what's going on in the place where I live; i was out of the swim. Hope it helped...

It means to be 'out of the loop', that is, not having the same information that others have.

It's hard to say without the context. The swim besides a traditional meaning as moving your body through the water, has still another one , which concerns state of person's mind. If you 'swim' you feel confused and unable to act or think clearly.All before your eyes can suddenly became 'swimming' and distorted. In situation when you manage to come around to your normal state,you can say that you've been 'out of the swim'.