A Bomb

1. An explosive device used or intended as a weapon.

• (dated) The atomic bomb.
• (figurative) Events or conditions that have a speedy destructive effect.
• (colloquial) Any explosive charge.

2. (slang) A failure; an unpopular commercial product.

• (US, Australia, informal) A car in poor condition.

Synonym: rustbucket

3. (Britain, slang) A large amount of money.

Synonyms: fortune, packet, pretty penny

4. (social) Something highly effective or attractive.

• (chiefly Britain, slang) A success; the bomb.
• (chiefly Britain, India, slang) A very attractive woman.

Synonym: bombshell

• (often in combination) An action or statement that causes a strong reaction.
• (American football, slang) A long forward pass.
• (basketball, slang) A throw into the basket from a considerable distance.

5. A cyclone whose central pressure drops at an average rate of at least one millibar per hour for at least 24 hours.
6. (chemistry) A heavy-walled container designed to permit chemical reactions under high pressure.
7. (obsolete) A great booming noise; a hollow sound.
8. (slang) A woman’s breast.
9. (professional wrestling) A professional wrestling throw in which an opponent is lifted and then slammed back-first down to the mat.
10. (slang) A recreational drug ground up, wrapped, and swallowed.
11. (colloquial) An act of jumping into water while keeping one's arms and legs tucked into the body, as in a squatting position, to maximize splashing.

Synonym: cannonball

The diametrical slang meanings are somewhat distinguishable by the article. For “a success”, the phrase is generally the bomb. Otherwise bomb can mean “a failure”.