Being a poor noob myself I have no idea if what Aeon is saying is true, but if it is, that is an issue. The Drawback of T3/T4 is higher fitting requirements, part of the purpose of those higher fitting requirements is to restrict full T4 fits, forcing you to make a decision on what to downgrade, if that doesn't happen then T4 is just straight out better, its 'Drawback' is meaningless. Unfortunately, Sabre is probably right, if you nerfed bots CPU / Reactor, noobs would have a problem fitting anything, due to the high number of secondary fitting skills (Far too many imo, but thats another thread), you could however further increase the fitting reqs for T4 gear to obtain the same result.
In regards to the way LWF scales through the tech levels, I think it fits with everything else, higher fitting / better performance. In the Armor Rep example the OP used, the higher AP usage would be viewed as part of the 'Fitting Drawback' which is CPU, Reactor and Accumulator Usage. If a module is passive like a LWF it just gets a CPU and Reactor Drawback, all other stats would be improved.
@Sabre, I don't see why everyone would crosstrain to blue if LWFs were nerfed, everyone would be in exactly the same position as they are now, just slightly slower. For PvP the issue is not absolute speed, but your speed relative to the speed of the people you are fighting with and against. Your Chameleon would still be faster than anything else, it would be slower, but so would the mech you were chasing down to tackle. I would be interested to see how the game would change if the LWF was nerfed to a level where it became a real choice of whether to fit one or not. Maybe it wouldn't work, and further game play changes would have to be made, but I think everyone would agree that fitting for speed shouldn't be the only way to PvP