Jazz is a slang term for cocaine. The kid wasn't insulting your fucking honor or whatever it is you're going on about.
Actually, it was one of those times where I didn't feel so much insulted as just confused. As if someone had tried to make an insult, but totally missed the mark. And we weren't even really using the word "jazz", just discussing certain musicians/tunes. The way he said it sounded like he was trying to be insulting, or sarcastic, but it just came off as random!