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You should be able to, yes.  How you would route MIDI CC to Reaktor is the only "catch", most hosts such as Ableton Live allow for this, but mention your DAW if you're unsure.

It will work in Live.  If you want to also use MIDI notes you need to create a Dummy MIDI track:  From LFOTool, to the Reaktor synth track, monitor IN.

I don't use Razor, but in LFOTool you need to set the LFO->Cutoff in top right depth, and CC out # in lower-left.

Then on another MIDI track:  MIDI From: (track with LFOTool) and make sure LFOTool is selected in the rectangle below that.  Then if you record a clip / record on that track you should see MIDI data.

To pass that to another track (e.g. Razor) just set "MIDI To:" to the desired track and set Monitor IN.

Yes, LFOTool has triplet rate options, they are enabled by default [3] so just change the rate time and you'll see times with 't' after the value.