LPX is 64-bit exclusively and so is the OS ML! Therefore you're out of luck if you plan to use 32-bit plugins. There are possibilities to bypass this rule with assistance of third party apps. At the moment I'm testing Plogue Bidule
I'm still testing all possibilities, but it looks promising.
Another app which seems to be capable of offering a platform for this purpose is Vienna Symphonic Library. I did not have the chance to test so I will not comment.
Hope that helps.
Have a nice day!