On L337 and LOL
My take on the difference between LOLspeak and L33t speaking: I think that they are closely related but distinct with some crossover.
LOLspeak tends to be intentionally, humorously misspelled and grammatically inferior. Because, after all, it is the typing of a cat.
L337 speak is a script-kiddie dialect. which means the stupidity is not simulated.
Yet, they come from the same mother.
Ergo: L337 is the retarded older brother of LOL, the cute one.