Just in case anyone's wondering, here-straight from the 'hood- are some contemporary ways of saying someone (or something) is "hip":

"the bomb" That jam is the bomb.

"off the hook" ; also "off the chain". Man, you got that right. That beat is off the hook.

"down". I'm down with that.

"mad cool" Yeah, and by the way, our Pres. is mad cool..

:o)