This question has prompted me to think about the origin of the phrase "the dog's bollocks". I mean where on earth did that actually come from? If something is really good or very beautiful we say it's comparable to a small furry bag of testes hanging under a dog's backside. Why do we do that? Personally I've never really thought dogs bollocks were particularly attractive or particularly great.
Having just removed my dogs swingy bits and the anguish I went through in making the decision, I have a theory.
Basically a dog would like to keep his balls, but most/many have them removed, any dogs that keep their balls is therefore privaliged, thus the dogs bollocks means you are one of the lucky ones with whatever it is that is 'the dogs bollocks'.