Lolzer can be used to acknowledge amusement at an object or an event in the same way as lol. It can be written, typed but is most popularly used in everyday spoken conversation.
It can also be used in a descriptive context.
e.g, when something funny happens one would exclaim "Thats a lolzer!"
In contrast when something that unamusing or serious happens it would be said that "That is not a lolzer"
Bob: "Thats a lolzer!"
Jim: "I think I might have broken my nose, it hurts pretty bad."
Bob: "Ah, ok. That is not a lolzer."
Kim: "My mum just phoned the house to ask me where I was?!"
an exclamation used to express one's comic appreciation of something, generally a recent action or intangible idea.
Other acceptable spellings:
It is appropriate to occasionally drop the s or z at the end to lessen the intensity of the expression. The final degree of lessening the level of emotion (from "lolzer") is simply "lolz(s)." this is typically used to display almost a level of neutrality towards the previous comment, almost as if to simply acknowledge that it was said.
"Ouch I just stubbed my toe"
"Too bad we missed the game"