Anything having to do with the incredibly unreliable AOL program that causes you frustration and makes you want to punch someone in the face for having to put up with it. There are many situations involving AOL that are AOLame including:
1)When something on AOL screws up it's AOLame.
2)The amount of memory AOL uses while running, slowing your computer down significantly is AOLame.
3)When AOL crashes, that's AOLame.
4)When you are in a quiet setting, and you sign onto your AOL email and that guy says YOU'VE GOT MAIL! and everyone looks at you, that's AOLame.
5)When someone on AOL TOS you and your account gets blocked permanently without even being able to explain anything to an AOL person, that's definitely AOLame.
The list goes on and on with the AOL program.
The word AOLame derives from AOL AIM, the instant messaging program AOL uses. You combine AOLAIM, and you change it to mean Lame AOL, or AOLame.
Guy 1: Did you get that email Jeff sent everybody?
Guy 2: I don't know, let me check my AOL.
Guy 2: Ugh! This program sucks! It crashed on me!
Guy 1: Wow, that's AOLame!