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!
"By george Montgomery, I do find that racist joke you told me rather amusing"
"Quite Winston, quite"
"One might say, as I am currently rollerskating, that I have my lolzorskates on"