So you got it, kikoolol comes from the contraction of kikoo (hello, possibly derived from the French "coucou" or directly from the japanese kikoo and lol (lots of laughs...)
Generally speaking, a kikoolol is a person who thinks they're hip 'n all friendly but they're just insecure loosers who get on everybodies nerves.
e-mail from worker: I need to get a new job
Girl : LOL, I'm Grace.
Boy : OK, never mind. DO NOT WANT Kikoolol