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The first is an adjective (no accent mark).
The second is both a noun and an adjective (fenómeno/a).
The adjective (both of them) means remarkable, exceptional. Synonyms are estupendo/a, admirable, espectacular.
The noun has several meanings. The one we know -phenomenon- and genius, ace, freak, curiosity, wonder, unprecedented event.
Apparently only the noun can be used in both a positive and a negative manner.
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