Phrases like lol, wtf, ftw, omg, etc. can mean multiple things; ftw has been used as for the win, f*** the what and more. Omg is used for oh my god, oh my gosh, oh my goodness. Basically it's all about what context anda use it in. Lol's most common use is laugh out loud. In fact I've never seen it used in a devil-worshiping way until now.