I don't know why you are trying to use 4x4 on lolz, it's already multithreaded and as KaktoR stated you can use -mtt1 -mtX where X is your number of threads to enable multithreading:
Code:
[External compressor:lolz]
header = 0
packcmd = lolz_x64 -mtt1 -mt8 $$arcdatafile$$.tmp $$arcpackedfile$$.tmp
As for faster methods, use LZMA2 from 7zip:
Code:
[External compressor:7z]
header = 0
packcmd = {compressor} a -txz -an -mcrc=0 -m1=lzma2:d64m:fb=273:mf=bt4:mc=1000000:lc=4:lp=0 -mmt=4 -mx9 -si -so <stdin> <stdout>