Usually means 'new - old stock' - items that may no longer be currently for sale or the latest spec, but are in unused condition (may even have bags or tags).
LOL = Laugh out loud ... or more worryingly Lots Of love.... so depends who it's from...
While we're here i guess there's a few others that might need clarification..
BITD - Back in the day
IIRC - If i remember correctly (very apt on this site)
BNIB - Brand New In Box
BNWT - Brand New With tags (for clothing generally)
JGTF - Jezza Got There First (for any decent e-bay kit you want )