No, this isn’t the dance where you try to squeeze under a pole by leaning backwards, this limbo refers to an imaginary place for lost or forgotten things. It’s where your socks go when you lose them in the dryer.
Limbo is originally a Roman Catholic term used to describe a place for infants who die before baptism. In common speech limbo can be used in much the same way as “gray area.” It’s a place where nothing is clear or certain. When the law isn’t clear on a specific issue, then that issue is in “legal limbo.” If there is an election that is so close that no one knows who won, that’s “political limbo.”