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2.
Much like rofl, this is the n00b version. The 'z' means nothing - it is just used 'cuz people think it looks cool.

Often teamed with 'xxx1111eleven1one"
Person #1: "My nipple was pulled of when I was on the receiving end of a nipple cripple"
Person #2: "roflz111eleven1111!"
by Haxor January 02, 2005
 
1.
ROFLZ is similar to ROFL, but with flair. Whereas some would contend the "Z" is useless, others, with intelligence, would contend it accentuates the point in a texting based environment. The others would be right.
1: You beat my high score.
2: ROFLZ
1: indeed
by XKNARF June 25, 2009