Source : Webster's Revised Unabridged Dictionary (1913)

Flaky \Flak"y\, a.
   Consisting of flakes or of small, loose masses; lying, or
   cleaving off, in flakes or layers; flakelike.

Source : WordNet®

flaky
     adj 1: made of or easily forming flakes [syn: {flakey}]
     2: conspicuously or grossly unconventional or unusual;
        "restaurants of bizarre design--one like a hat, another
        like a rabbit"; "famed for his eccentric spelling"; "a
        freakish combination of styles"; "his off-the-wall
        antics"; "the outlandish clothes of teenagers"; "outre and
        affected stage antics" [syn: {bizarre}, {eccentric}, {freakish},
         {freaky}, {off-the-wall}, {outlandish}, {outre}]
     [also: {flakiest}, {flakier}]

Source : Free On-Line Dictionary of Computing

flaky
     
        (Or "flakey") Subject to frequent {lossage}.  This use is of
        course related to the common slang use of the word to describe
        a person as eccentric, crazy, or just unreliable.  A system
        that is flaky is working, sort of - enough that you are
        tempted to try to use it - but fails frequently enough that
        the odds in favour of finishing what you start are low.
        Commonwealth hackish prefers {dodgy}.
     
        [{Jargon File}]
     
        (1996-01-05)