I think it could work, but it depends on how, exactly - for instance, you could do a pretty interesting mixup between forum-post style chapters and "alternate reality" type scenes as though these things are really happening with real people in a real place. Honestly, though, I think it might work better as a sci-fi or mythology spoof themed work; as an example, the moderator in the AR scenes having sort of demi-god like powers that he can use to change the world around him and the people to an extent, while the troll has illicitly-obtained abilities from evil artifacts. Or something.
However, I do think that it could work quite well, depending on your approach and your overall writing quality. I'd actually be quite interested in reading it, no matter what genre you go with.