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1.
When someone is about to laugh out loud, tries to hold it in, but it breaks out, and the person ends up screaming
Robin was about to laugh at my video, but she held it in, resulting in a lolsplosion that blew out my eardrums
by Salamandr December 20, 2009
 
2.
when somebody is going to go "lolololololololololol" but realizes that is stupid.
Me: Check out that double rainbow video.

Friend: ...Lolsplosion.
by teh mowz January 05, 2011