Something so mind-boggling, so thrilling, that it might alter the course of the entire world! (or a person's entire way of thinking)

It may also be used in the phrase below:

"Stop being so dramatic! There is no use in bawling like a baby just because you dropped your spoon into the toilet again! Oh, and stop doing that already!"

See also: Feature Request for Universe 2.0, which contains some good examples of things that are, or have the potental to be "dramatic".