I tried to install v0.7b of LiveView to a newly installed PC the other day and it prompted for either VMWARE Workstation or Server as a requirement. I think that this is because it uses these to build the VM from the physical disk or raw image, which VMWARE Player is unable to do. Once you have a VM made up, sure you can use Player to run it. This is probably what the OP is getting at.
I am not current with VMware thingies, but there are/were quite a few "VM creators" for the player around
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And it seems like vVMplayer 3 can create VMX's
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sanbarrow may know current state of the art
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http//sanbarrow.com/
But Liveview AFAICR always asked for either a Server or Woirkstation version
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The 2.0 Server version is still Free, from what I can get
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but the old 1.x version, still available
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definitely was (though you need to Register at VMware).
jaclaz