Yes, if you are running an version of LIDS older than 1.1.1preX please read on.
For setuid programs, the LD_PRELOAD env var is "cleansed" so that it can't affect the libraries loaded by a program (with the exception of recent glibc vulnerabilities).
Problems arise when you grant special capabilities or file access permissions to non-setuid binaries. Since the LD_PRELOAD env var isn't "cleansed" before loading libraries, someone with malicious intent could load a trojaned library and it would have the same special capabilities/file access permissions that were given to the original program.
Possible options to reduce your risk:
Any program with special capabilities or file access permissions should be restricted with the standard unix file permissions so that not everyone is allowed to execute it (e.g. chmod o-rwx /path/to/program )
Another option may be to make the file setuid and change the ownerhip to a non-root user. That way the LD_PRELOAD env var is "cleansed" before the program is executed.
SECURITY UPDATE: Starting with LIDS 1.1.1preX, the LD_PRELOAD environment variable is disabled automatically for any program that has been given special privileges via LIDS. This has also been back ported to LIDS 0.10.3.