"Trololo" is any bullshit (or other) speech which is completely unfounded in reality, contains absolutely no truthful substance but is spoken in a happy, optimistic way. Generally, the speaker is not aware that they are completely full of shit - this is most common amongst clueless businessmen or entrepreneurs pitching venture capitalists on lame business ideas.
Trololo is interchangeable with "Bullshit" but contains a connotation of a positive, clueless delivery on the part of the person speaking it e.g., the person speaking does not realize that they are full of shit and is way too happy.
The Trololo-er is someone who has committed the ultimate sin of buying into their own bullshit.
(Based on the world famous "Trololo" video posted on YouTube featuring a happy Russian singer happily spouting / singing nonsensical phrases)
"That presentation was the worst bunch of Trololo I ever heard."
"Did you hear that Trololo Steve Jobs was spouting about Adobe Flash?"
"Our CEO is the king of Trololo, I have never met someone who has bullshitted themselves so thoroughly."