What is dare-devil dodge?

Dare-devil dodging is when you dodge at the last second; usually within the context of a hack and slash.

Often, as is the case in Bayonetta's witch-time, this belated dodging grants a bonus such as slowed time, increased damage or speed.

This term is similar to 'Demon dodge' which is a reference to the 'demon evade' found in 'DMC: Devil May Cry'.