The Collaborative International Dictionary of English v.0.48:

Smash \Smash\ (sm[a^]sh), v. t. [imp. & p. p. Smashed
   (sm[a^]sht); p. pr. & vb. n. Smashing.] [Cf. Sw. smisk a
   blow, stroke, smiska to strike, dial. Sw. smaske to kiss with
   a noise, and E. smack a loud kiss, a slap.]
   1. To break in pieces by violence; to dash to pieces; to
      crush.
      [1913 Webster]

            Here everything is broken and smashed to pieces.
                                                  --Burke.
      [1913 Webster]

   2. (Lawn Tennis) To hit (the ball) from above the level of
      the net with a very hard overhand stroke.
      [Webster 1913 Suppl.]

WordNet (r) 3.0 (2006):

smashing
    adj 1: very good; "he did a bully job"; "a neat sports car";
           "had a great time at the party"; "you look simply
           smashing" [syn: bang-up, bully, corking,
           cracking, dandy, great, groovy, keen, neat,
           nifty, not bad(p), peachy, slap-up, swell,
           smashing]
    n 1: the act of breaking something into small pieces [syn:
         smashing, shattering]