Q. When you say over Purim Torah, do you comply with the mitzva of learning Torah?

A. Many sayings of our sages may be seen as what would qualify as Purim Torah, e.g. “Where is Hamman written in the Torah? It is said: Hamin Haetz” (Chulin 139b). Apotekee,a greek term meaning a lien on land, that was translated to stand for the Aramaic ‘Apo Tehe Koee” (you should collect from this) which is obviously a fanciful untrue translation, and many others. Still they are all part of the Talmud and Midrashim.
Horav Shlomo Miller’s Shlit’a opinion is that of course it depends of what is being said. However even if it is totally nonsensical, absurd and not even amusing, you may still be rewarded for the psukim and correct quotes of our sages included. Nevertheless, the above applies to sayings and expressions that do not ridicule or make a mockery of the Torah and mitzvos or other people, which constitutes a very grave sin.

Rabbi A. Bartfeld as revised by Horav Shlomo Miller Shlit”a