It depends what you mean by "exported"
If you happen to mean that you want it sent to Report Generator, then my understanding is that you can do that.
If you happen to mean that you want the raw text to be displayed on the screen, then Yes, you can do that.
If you happen to mean that you want to generate latex at run-time, and you want to have the rendered latex displayed in LiveScript, then there is no support for that. The closest you would get to that is that there is some internal support for displaying MathML -- but I have been unable to get anything to display on demand (at most I have been able to put in a breakpoint and modify the MathML of an expression so that the modified version is displayed, but I have never been able to trigger a display myself.)
If you were able to inject latex in LiveScript, you would only be able to affect one single expression, with no ability to affect blocks such as your \begin{description} would want to do. For that kind of work, you need Report Generator.
