Slang expressions frequently take an everyday word and give it a completely new meaning in casual conversation, and "the bomb" is a classic example. When someone tells you that you are the bomb, they are complimenting you, saying you are amazing, fantastic, or top notch in some way, whether in skill, appearance, or performance.
The literal readings in options 2 and 4, calling someone a war weapon or something dangerous, mistake the figurative slang for its dictionary meaning, which is not how idioms work. Option 1, linking it to a bad temper, mixes it up with a separate idiom about someone being like a ticking bomb ready to explode with anger, which has nothing to do with this phrase.
Correctly read as a compliment, the phrase means the person is exceptional and wonderful, confirming that option 3 is the right answer.