What is 'crazy wisdom'? (no uninformed guesses please)
What is Crazy Wisdom?

See Wikipedia.

Is there a notable difference between "crazy wisdom", "just plain crazy", and, "undisciplined, predatory, sociopathic"?


  In the case of ordinary craziness, we are constantly trying to win the game. We might even try to turn craziness into a credential of some kind so we can come out ahead. We might try to magnetize people with passion or destroy them with aggression or whatever. There’s a constant game going on in the mind. Mind’s game- constant strategies going on- might bring us a moment of relief occasionally, but that relief has to be maintained by further aggression.
  
  In the case of primordial craziness, we do not allow ourselves to get seduced by passion or aroused by aggression at all. We relate to these experiences as they are, and if anything comes up in the midst of that complete ordinariness and begins to make itself into a “big deal,” then we cut it down- without any special reference to whether it is good or bad. Crazy wisdom is just the action of truth. It cuts everything down. It doesn’t even try to translate falseness into truthfulness, because even that in itself is corruption. It is ruthless, because if you want the complete truth, if you want to be completely wholly wholesome, than any suggestion that comes up of translating whatever arises into “your terms” is not worth “looking into.”
  
  On the other hand, the usual crazy approach is completely up for that kind of thing – for making whatever comes up to fit into your thing. You make it suit what you want to be, suit what you want to see. But crazy wisdom becomes completely accurate out of the moment of things as they are.


~Chogyam Trungpa, Crazy Wisdom

-- So the key difference is, ordinary craziness is acting out of Ego's overwhelming passions, aggression, and delusions - and "crazy wisdom" is acting out of enlightened mind but without concessions towards deluded samsaric ideas about right and wrong.

Does it have a specific direction (guiding light), or purpose (destination)?

To cut through student's samsaric attachments and neurosis.

What's the 'right' way to act or react or view, if any, if you meet with or even are such a one?

Please see Dzongsar Khyentse Rinpoche's "Guru and Student in the Vajrayana" (original post on Facebook is here).