For us Americans, it designates a turncoat. And for the Canadians, it doesn't exist. Barber expects that only about 2,000 or 3,000 words in her dictionary will be exclusively Canadian. It got borrowed into English as 'Hoochinoo,' to designate an Indian people living on Admiralty Island, Alaska, who are reputed to produce strong drink. Different institutions beget different vocabularies.
Slang is a touchy issue in Canada.
When The Oxford Dictionary of Modern Slang appeared in 1992, none of the derivations was attributed to Canada. But that was pretty much it. The Oxford Dictionary will redress this grievance. I give in. Any language with four words for underwear certainly deserves its own dictionary.