Theres a lot of information on Height Quest about LSJL and there's an LSJL forum out there too but its not very active from what I last rememberhttp://www.heightquest.com/2010/10/how-richo-venter-grew-14-with-lsjl.html
"LSJL can work by multiple mechanisms. One of the mechanisms could be bone deposition on the subchondral plate resulting in Venter's 2mm gain in his left tibia. Another could be differentiation of stem cells and periosteal progenitor cells into chondrocytes as a result of TGF-Beta, hydrostatic pressure, and hyaluronan-mediated BMP-2. These cells then form cartilage canals(thanks to MMP-3) through the perforating fibers of the periosteum, then these cartilage canals turn into new growth plates. LSJL also inhibits MMP-1 which degrades the extracellular matrix."
theres a whole bunch more info/studies on lsjl on that webisite