The new way to say lol, when people say lol, they're not actually "laughing out loud". Therefore, in a bid to be ironic, olo is the better way of saying this.
Well "olo" can be used as an expression greater than "lol". "olo" can describe a moment that is disgusting & out of the ordinary but still be funny at the same time . olo:" only laughing outrageously"
Like on a tv show that make ppl do insane thing for money.
The guy was blindfolded when the host told him to makeout w/ a stranger but it turned out to be his grandmother. olo @_@