The Guardian’s Sam Leith doesn’t see the humor in LOL:
In the last decade it has effortlessly overtaken “The cheque’s in the post” and “I love you” as the most-often-told lie in human history. Out loud? Really? And, to complicate things, people are now saying LOL out loud, which is especially banjaxing since you can’t simultaneously say “LOL” and laugh aloud unless you can laugh through your arse. Or say “LOL” through your arse, I suppose, which makes a sort of pun because, linguistically speaking, LOL is now a form of phatic communication. See what I did there? Mega-LOL!
Bonus points for “banjaxing.” As it happens, “banjaxed” is an Irish term for “broken or unusable, usually by result of violent damage.” (Admittedly, I JFGI’ed.)