Live Event Blaster is used to create streaming event with or without actually streaming the actual videos.
In Live Event Blaster if you want to stream a video, you first need to set a video to the item. This can be done by right-click on the event - "Edit Item" - click on "Browse" and attach the video file 
Lingo Blaster is an online application which is used to translate videos which are already uploaded (in the case of Live Event Blaster - ALREADY streamed where you can see the status "Finished" displayed under the "Streamed" column beside the item
Therefore, Lingo Blaster is capable of working with Live Event Blaster IF the video attached in the Live Event item HAS ALREADY been streamed which means it has been UPLOADED to Youtube.
YouTube does not support translations for Live Events (events that do not have a video streamed).
Once you stream a video to the live event, then the live event transforms to a regular video. At this point, you can translate the video details using Lingo Blaster.