It will look like this in the settings:
Code:
Data2.Method1=xtool:mzlib+srep+lolz:mtt1:mt12|0
However you can set it directly even in the GUI aswell by type it manually or select one of the presets for lolz:
https://i.imgur.com/xMp4E29.png
* All possible options for the lolz compressor can be found here: "Resources\FINAL\LOLZ\Options.txt"
Time for compression mostly depends on your hardware, especially how fast your cpu and ram is, and of course of the input data and used settings. So there is no way to telling you how long compression will take if no one write the time and his pc specs.