May refer to the episode of the tv show The Office of the same name or the song by the band
Neck Deep. In the case of The Office, it refers to a movie one of the main characters writes. In the Neck Deep song it is believed to reference that episode of The Office but is also belived to describe and
urgent situation, in
the song's case one involving a relationship or love.
"It was Threat Level Midnight once he
found out about her."