Lylo = Lynch (correctly) or lose.
Mylo = Mislynch and Lose
Difference being that MyLo still leaves a No Lynch option.
So in, for example, a 7 player vanilla game.
If town NoLynches Day Two becomes 6/2, which means town either has to NoLynch again or Lynch properly. A mislynch makes Day Three 4/2 ergo scum win.
If town Lynches Day Two becomes 5/2, a mislynch still affords a DayThree of 3/2.
All skewed by night roles etc, but you get the idea...