I'm starting to hear it a lot more now and sometimes I hear it used in the wrong context. I remember last year it was "epic" and 09 or around that time it was "sellout".

People used sellout for any musical artist who changed their style by the smallest detail and people used epic to describe something stupid like how great their sandwich was or something like that.

I have the feeling hipster is going in the same direction, as in it's going to end up being over used and annoying like sellout and epic were.