Yes, Lab Management can be branded just like CEE and uses the same stylesheets, javascript, and image files.
Unlike CEE, however, Lab Management is not remotely brandable. Therefore, once you have designed the branding the way you want it on the CEE side, Lab Management can obtain the branding from CEE and enter it into Lab Management.
Branding in Lab Management is domain-wide, and there is no provision for project-level branding overrides. If you need assistance branding your CollabNet Lab Management site, contact CollabNet's Professional Services team.