To me, it is a creative alternative to rolling one's eyes up to heaven.
I like it.
But then, I like all manner of colloquialisms.
In the Midwest, we heard, "Holy Cow!", "Holey Moley", and my personal favorite, "Mother of Bald Heads!" (often used by Chicago Ironworkers) That one was usually accompanied by a slap to your forehead. Spoke volumes that everybody understood!
Quite fun.
