Re: LFO to control track automatiz...
I believe this isn't possible.
What were you hoping to use the LFO on?
Some of Logic's Insert plugins have LFO's. Also, it's possible to create empty regions and draw in hyperdraw values... timestretch the regions to create different lengths of hyperdraw... then place them on empty tracks, hide them and save them in a template or use the new Import feature in Logic 9 to import the regions directly into your projects and convert them to TBA or the CC you want to use them on per track.
Does that help at all?