It does use it. The problem is the order in which changes are done and that the file system updates the dir's time stamp when a file is added to it.
Lha does
makedir drawer
setdate drawer
store drawer/file1 <- this changes the drawer's date to today.
setdate drawer/file1
and so on.
Lha should set date of drawer when it leaves it, not when it enters it.
Can only be changed by the author. Send him a bug report.