I completely forgot to mention the meaning of めちゃx２イケテいる. イケテいる is a verb that means "cool." If something is in the state of being cool, it is イケテいる. めちゃめちゃ makes it stronger. Young people use it often either as めちゃ or めちゃめちゃ, for example めちゃ寒い – damn cold or maybe even fucking cold. The show translates this as "What a Cool We Are!" although "We are Damn Cool!" is much less Engrishy.