colloquialism vs way-out

colloquialism is a noun but way-out is not a noun.

Word	Noun	Adjective	Verb	Adverb
colloquialism	Yes	No	No	No
way-out	No	Yes	No	No

colloquialism (noun)	way-out (noun)
a colloquial expression; characteristic of spoken or written communication that seeks to imitate informal speech

colloquialism (adjective)	way-out (adjective)
	(informal) strikingly unconventional