To my knowledge, the Lam drawing, connected solely to his analysis of HP Blavatsky's work 'A Voice in the Silence' was not given much thought by Crowley after he created it, until Kenneth Grant took an interest in it in his own Extra-Terrestrial theories. There is no reference I've found to Jack Parsons, nor his student L Ron Hubbard putting any credence to LAM as connected to the opening of the portal.
LAM is the way, as a LAMA (like Dali Lama) is one who follows the way. I do not believe LAM is meant to be a grey alien, but rather a picture of oneself with a bulging intellect. A metaphor.
The working that opened the portal is a part of Enochian magick, to my knowledge, and many of us do Enochian magick, so if it is open, it is constantly reopened. It's a back and forth conversation with angels. The UB decided Enochian magick was too dangerous for your average joe, so they removed it from their own Golden Dawn lineage, but it is still a part of most other systems derived from the GD. (To my knowledge, the AA)
Perhaps I've gone too far into this, but it will make sense if you keep looking into it. L Ron Hubbard's participation in the occult was short lived indeed. (though even after his creation of Scientology, he still paid homage to the Master Therion's work) By most accounts, his goal was to get in bed with Jack Parson's wife.
Jack Parsons was a promising member of the OTO.
The Babalon Working is sometimes what his primary ritual to reincarnate a certain entity was called.