Duckman78, close but no cigar I'm afraid.
I would highly recommend leaving this service running in it's default set-up as it controls lmanager.exe (as jem2828 already mentioned).
This program is included with default OS install on all acer aspire laptops and allows use of their special touch buttons (eg wifi on/off, run NTI BackupNow, Acer E-power Management on/off, and anoth I can't remember). In some aspire models it also allows some limited keyboard customisation.
So in summary, disabling the service / uninstalling launch manager won't affect the OS or they way your laptop runs, BUT if you want all your acer keys to function properly, leave this installed.
Cheers, DC.
Sources:
Worked as a consultant for several electronics distribution companies not long ago, also I have owned an acer aspire 4810t for around 3 years.