The use of a > (greater than) symbol has nothing to do with an event, not sure why you got that impression. It signifies assignment... as in assigning the value to the LVAR.
The custom animation will read the Lvar and update. The default animation will be told like a command to do something.
So what i called an Lvar event is actually storing or updating the Lvar value. So now i see why it's not an event!!! Thanks everyone that helped!