Is it strange that I have absolutely NO idea what you're talking about?
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Lolcow refers to an internet personality who trolls "milk" (hence the -cow suffix) for laughs (or "lols"). If you know who Chris Chan is, he's pretty much the poster child and is where the term came from. Never heard of the term horror cow but I'm using context clues to assume it's like a lolcow who goes too far in retaliation when they get trolled.
For OP, these are both very specific terms that are used in niche communities in closed-off subgroups. I don't think there's a single word or phrase to describe what you're looking for.
I think a horror cow is someone, often a lolcow, whose life becomes more horrifying than funny to watch. Like finding out about Chris Chan and his mom. Or watching in real time as KingCobraJFS's body and mind succumb to his alcoholism, nicotine addiction, exposure to unventilated spray paint, and consumption of horrifying foodstuffs.
There's no difference. A cow is a cow. Just depends what moooood she's in.