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Can't say that I've tried it since I don't use it and lean more towards other backup app's, I gave up on TiBu cause its complexity.Titanium backup?
I have rom toolbox pro which I believe includes that.do you have Root Explorer (it's a paid app)?
Found odex files in system/priv-app but no apk couldn't even find a cust folder, Lookout in play store says Deactivate or Open, wonder if its set as a admin app.

NVMI don't use it got other app's for that, also apparently have root, but when I root or play store uninstall it, it's still there waiting for a update.
How else can I completely get rid of it, not freezing it? Other than freezing it.
Thats what i believe i tried the first time and it didn't fully remove, its gone now but before the first time around it was in play store waiting for a update to be installed.I would try:
ES File Explorer > Enable root access > Head up to the / dir > /system > enter either app or priv-app and do a search for lookout.apk or just plain lookout.