Dictionaries - at least the ones I checked - mark the "very good" meaning of "egregious" as archaic. I'm only aware of the "very bad" meaning (in UK English), and was quite surprised, when studying maths, to learn of Gauss's "Theorema Egregium", and that the word could have positive connations.
Shit (meaning “how true”), shit is veritably the aladeen of words. It can basically mean anything depending on usage, context, attitude, or tone of voice.
Btw, let me add my personal pet peeve: "egregiously" somehow went from meaning "very good" to mean "very bad" in American English.
In my native language "egregiamente" still has the original meaning so I was confused for a long time.