Really Loling

"LOL" is usually used as a filler in a conversation, something said when other words are unknown. You don't usually actually laugh out loud when you say it... which is why it's even more amusing when people, out loud, SAY "LOL".

"really loling here..." means "I'm actually laughing out loud" so people know that whatever they said was genuinely funny.

John - "Dude, look at the picture of Crystal from the New Years party!"

Ricky - "OMG, I'm really loling, here!"