It appears the 32 bit version of lxle installs zram-config by default however when reading tutorials on zram I find that /dev/zram0 does not exist and "swapon -s" does not show a zram swap space allocated so how does one go about enabling the zram function?
Do a search for zram using catfish on the filesystem to see if you can find it. Zram enables itself upon installation, perhaps trying a reinstall followed by a reboot might take care of it if the search is unsuccessful.
I can confirm that the behavior is different between the 32bit and 64bit versions of the latest release. On 64bit (14.04), the zram is working fine by default. On 32bit (12.04.4 Revisited) it is not working after install. As famewolf pointed out, a simple reinstall of zram will then fix this issue.