Live Components are essentially components and can be transported in the same ways. Or to put in another way the geometry for a Live Component is effectively cached as a component inside your files. When dowloading from 3DW before configuring, there is a “static” version of the geometry available as a component. Once inside sketchUp, Live components can be copied or saved as just like normal components. You’ll even be able to email a configured live component as a file attachment. It’s only when you go to reconfigure that the contents are changed.
This is definitely possible. Much like how you make choices that affect the polygon count while modeling manually, you can make the same choices when authoring Live Components. Parameters can be linked in various ways to control the LOD of model assets. For example you could have sliders that affect something like the number circle sides for an extruded pipe. Or you could set up enums like: High poly & Low poly which then affect your model assets. I’ll see if we can publish some examples with LOD controls soon.