A buggylol is like a lolcat, only newer and fresher and a little more theme specific (even though buggylol will never cease paying homage to the lolcat goodness, and the lolz it has bestowed upon us).
We take photos/cartoons of character's faces or situations that are totes buggy, send them through a generator, and then lol at our beauts-ness.
Oh, confused as to the propz definishe of "buggy"? Urban dictionary is your friend.
Pace love you.