I've created a javacc based grammar, and a partial interpreter. I've built up a complete project, with a build file, tests, etc..

http://code.google.com/p/lolcode-java/

The project can currently run some LOLCODE programs. Hopefully by the end of the weekend, this implementation will be able to run all LOLCODE programs on the LOLCODE.com website.

There are currently several implementations of LOLCODE in C, Python, and Perl, however modern enterprise development is general centered around Java. Getting LOLCODE to run in the Java JVM is very important if LOLCODE is to be used in the enterprise. Large scale enterprises trust the Java JVM and have farms of severs running the JVM. Deployment becomes a very big problem if you want to introduce something outside of the JVM. For LOLCODE on MONORAIL apps, the client can simply be given a .war file with the LOLCODE app embedded in it. Getting LOLCODE deployed in the enterprise is what's needed to take the language from a hobby language to a big iron enterprise language.