I have been mulling over Mario Vitton's post at Weekly Leader - Experience Means Nothing - Judgment is Everything.
I'll take a stab at this. I would say that knowledge is the result of grinding experience in the mill of judgment.
With regards to maintaining situational awareness, rather then juggle terms I think a more productive way to think about this is in terms mental models.
In this view there is the real world and a model of the world in our head. When information from the real world does not line up with our mental models, what we expect, there is a mismatch. To resolve the mismatch we have two choices, to either reject the feedback as incorrect or adjust our mental model (or some combination of both)
We do this all the time, when we encounter a mismatch we might say that something "doesn't make sense" If it is something important we reject the information as not accurate or adjust our view so that it does make sense.
A little off topic but an interesting example of something that appears to violate common sense is the answer to the question: Can a wind-driven vehicle travel directly down-wind faster than the wind? or DDWFTTW. a post explaining here,
A forum - trying to "make sense" of the idea
Finally - a you tube video showing one way to "make sense" of the concept.
Opps - One more: To all fellow skeptics, start baking that humble pie, or eat your hat. Your choice."