If it's a b2c product (lolchat, lolcards), then yeah you can get away from it. But if it's a b2b product then probably not -- unless it is a ridiculously innovative lolcode application server.
I would be 75% OK using a service with such a name, but you would alienate some people for sure. Keep it in reserve, but might be worthwhile to keep thinking about some other names, too. You don't want to limit yourself based on your brand.