A combination of the words "lol" and "vortex," which denotes a a thread on a fourm where the message lol is quoted over and over again by different users who after quoting then enter the word lol themself. Each user quoting every user behind them inside the quotes of others creates a box of quotes that begin to look like a vortex. Thus it is a vortex of lols.
"Everyone was laughing at everyone's lol on the forums last night. It formed a loltex!"