Hi there,
Vizard, at this point, supports only Cal3d animation format (I hope I'm not mistaken). For static mesh, I'd recommend to use OSG format. If you want to utilise Lightwave fully for Vizard, then you need to find a Cal3d exporter and OSG exporter for Lightwave.
I had a look around the web for Lightwave OSG and Cal3d exporter and I couldn't find anyone who could confirm working versions of these two exporters for Lightwave.
I'm currently working animation for Vizard by using Blender. I've been hitting walls in broad-daylight.
You can see my progress in one of the threads.
I wish you all the best!
Regards,
k_iwan