It doesn't work for me either. It does not generate any exceptions when trying to drag it, and the action does not show up on the Actions list either, nor show a window for modifying it. When right-clicking, the action does show up on the Actions list, but it does not generate a window either, and it generates an exception. It also generates the same exception when double-clicking the action in the Actions list, and it does not show a window to modify it. The exception:
http://pastebin.com/iXv7Sj9cI am running on Linux, and the version of LateralGM should be relatively recent.