Beyond "Lol" beyond "Lols" even past "Lulz" is LOLZORAMA! This word is meant to be a snotty retort to some newb retard type person telling you how funny something is! It is usually said sarcastically with a scrunched up face.
Steve says:"Hey lets watch Ace Ventura Pet Detective for the Nth time, that movie is so damn funny!
The only man that can have the best grades in the school, not study, be school-board vice president, kill his parents, rule a country, die, and live to tell the tale.