Per Deakins, I've been leaning during the climb but not doing LOP climbs. Rather I've been noting my EGTs at 500' or higher, then leaning every 1,000' or so to maintain the same EGTs. As I understand it, this is cooling with extra fuel but doing so without dumping even greater amounts of extra fuel as higher altitudes naturally richen the mixture. It's conservative in the sense that at any point, the engine is 'parked' in a safe spot. That is, if I stop leaning nothing bad will happen.
The thing that concerns me about LOP climbs is that engine is not 'parked' in a safe spot for climbing. As the climb naturally enrichens the mixture, pressures and temps will climb as the mixture moves from LOP to Peak or even slightly ROP, aka the 'red box'. This especially would concern me going only 5deg LOP.
Of course the remedy is to monitor the EGTs during a LOP climb and if 5deg LOP is the target, one would need to continue to lean as one climbed. But neglecting this fine tuning could put you right in the red box, especially early in the climb.
If climbing LOP, do you continue to lean as you climb?