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2.
lolz0rs originates from the original phrase used by 9 year olds, lol, which means "Laugh out Loud" but this particular variant is used by geekdorks, startrek/scifi fans and the like..
"lolz0rs I am teh Bork!!!11one"
by Matt September 19, 2004
 
1.
Like many other "0r" words (like bitchz0r, or hax0r, or sux0rz), this has an unknown origin. But it can be traced back to "lolsaur".

If you are a true lamer, use it. If not, AVOID IT AT ANY COST, or people will start to think you're a moron.
Person1: something REALLY funny
Person2: OMG lolz0rrrr!!!!111
Person1: yaaaaaa bitchz0r die cuz i am teh hax0rz

Person1: kekeke
Person2: kekeke! lolz0r!!!11

Person1: Hi.
Person2: lolz0r
Person1: ?
Person2: lolzor!!
Person1: O.o
Person2: lolz0r!!!111 kekeke omg lolz0r!!!
by Grunt January 23, 2006