I have a question regarding the usage of "as hell" which we use to refer to something as being "too much" in slang, right (e.g. "The exam was hard as hell.", "The game was boring as hell.") ? Then, is the below usage correct, too?

1- "The weather yesterday was cold as hell." How do the native speakers of English react to this sentence? Especially the "as hell" part? Is it plausible? If so, then does the sentence mean: "The weather yesterday was as cold as hell (is), which is not cold at all." or "The weather yesterday was too cold."

Hope I was clear. Thanks in advance for your invaluable replies.