Mystic Revolution is an action/adventure webcomic set in an MMORPG that follows a pyromaniac sorceress and a not-so-l33t ninja who follows her around. Together they experience the excitement of leveling, love and lots of beer.
Crouching Moron, Hidden Badass - L33t_ninj4. He's shown to be a player who saves everything he collects from adventuring, uses equipment considered to be joke items, and abilities considered weak and underpowered by other gamers. He makes them work.
Toasty, even more so. Unlike some of the characters at the start of the tournament arc, he single-handedly takes on a boss that has one of the tournament keys... and wins. Given that most of those bosses require either a high-level top-tier character or an entire party to take down, it's a testament to both his skill and his insanity that he is able to take one on and win. Apparently, being too dumb to realize you should lose really can work in a video game.
Expy - Word of God said Alistairfan3 has the backstory of Joey Wheeler. However, it is done with a little more sense here. Alistair does have a job, and he's not throwing everything up in the air to go to some far off island, but rather using his spare time to hack up rare gear in a popular online game which he will sell on E-Bay.
Some of the classes and races are loosely based on those in Final Fantasy XI. Ninjas for example, have the ability to create shadow clones. Neko are somewhat similar to Mithra. Paladins have Phalanx as well.
Lethal Joke Character - Bards in 1on1 Pv P with large spectator crowds. Literally. L33t_ninj4 is kind of playing the ninja-class that way (by using very unconventional and underused skill-combinations), in contrast to the more serious ninjas like Moxie who play for professional effectiveness.
Rain of Arrows: FeatherRae, a seraph ranger, pulls this off by her self twice with a move called Eclipse Arrow. Essentially, it's a Trick Arrow consisting of a large canister filled with a lot Crossbow Bolt sized arrows. Can literally be used to cause an eclipse of the sun, and cover an entire arena with arrows.
Suffers a much darker one after meeting Machiavelli, when the sanity slippage turns into pure fear.
Shout-Out: A large number of them to Anime, and videogames.
Final Fantasy XI get's a number of references, to in game abilities, and classes. During a orientation meeting before the Tournament begins, some Male Neko NPCs appear, with Lourdes and Gothgirl mentioning that this is a first, and wondering if they'll be added, which is a similar situation FFXI had when they saw Lehko Habhoka, the only male Mithra ever seen at that point during the Wings of the Goddess expansion.
Take That: Lourdes first fight in the tournament, is against a Dryad Berserker whose alias is SSSJ3-Vegeto666. Further parodied when he immediately begins the match by using his "Berserk" ability, mimicking Dragon Ball Z long drawn out shout and pose as he powers up. Has an Oh, Crap moment as soon as Lourdes charges right at him, realizing how vulnerable he is.
Technicolor Fire - Lourdes' flames are a pink-ish color for the most part (when we see them in color anyhow). Granted, they're pink because that's actually her Moderator powers manifesting as an attack.