The expression de huevos has two main uses. When it is preceded by the verb ser o estar it works like "fucking awesome". The "fucking" is added to make clear that the expression is not appropriate for a gathering with old school folks (e.g. my parents). It's rather informal.
Tu camisa del Zacatepec está de huevos => Your Zacatepec (a soccer team) jersey is fucking awesome
El cadenero del "Balalaika" es de huevos => The bouncer at "Balalaika" is fucking awesome
Me fue de huevos en Chacagua => My time in Chacagua (a lagoon in Mexico) was fucking awesome
When used with any action it means such action was taken "bluntly, impolitely" or also "without giving any valid reason". It's informal.
El patrón me cachó con la dependienta y me despidió, así, de huevos => The boss caught me with the clerk and he fired me, bluntly and impolitely
El Señor López se proclamó Presidente, de huevos => Mr. López claimed to be President without giving any valid reason
Note: there are other uses of huevo(s) not addressed in this entry.