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Razor is a word that we came up with at are first con in the UK... it means amazing , outstanding... basically everything awesome!!

A.J. Buckley, Source

A term used by the Ghostfacers and their fans. "Stay razor!" is a salutation equivalent to "be cool!". It can also be used to indicate approval of something - "that's razor." It has not been used in Canon and appears to have originated during a panel session at Asylum 2008 with A.J. Buckley (Ed Zeddmore), and Travis Wester (Harry Spengler).

Also used by Katie Holmes used in the movie Disturbing Behaviour to describe something that was cool, or another way to say she agreed; something she liked.