I’ve certainly heard “cool” to mean “cool” (the “genial” type) in Mexico.
“… These bleeds?” </outakes>
Except, first, he only uses it in the title and with no comma, so it could be the guy’s lastname, and second, the song is not in Spanish.
Funny. I don’t speak much Spanish and I’d never have been able to come up with the response you mention, but reading it, it feels strangely right, like some sort of “subconscious romance language common sense”.
On a similar note, about 20 years ago, I was improvising a conversation in Spanish with my brother, who unlike me speaks it quite well and I exclaimed at one point : “Absolumente !”, based on the French equivalent and my brother retorted : “Wrong !”. Without missing a beat, I came up with the correct “Absolutamente !”. He found it fascinating that I had not only rightly felt that I needed to add a syllable, but also guessed its correct place and that it had to be -ta- (and not, say, -zi- or -fo- or anything, really).