You can do point in time restores with LiteSpeed.

The article was meant to show how to do point in time recoveries with native SQL commands, not to actually discuss third-party backup tools.   I did mention in the article to check your third-party tool documentation for their commands.  

If the database is in full recovery mode, you must do transaction log backups on a regular basis.  That should keep the transaction log from growing too large.

Glad you enjoyed the article.  I was surprised at the number of reads and the response it received. 

Kathi