Forget about this LiteCommerce code there. This is what XC started at first and based all XC5 on it. That's why XC5 code is full with 'LC' references.
However in general yes this also applies to XC5.
I'd suggest to start here -
https://en.wikipedia.org/wiki/Decorator_pattern - and similar articles. Also examine the code under classes and same under var/run/classes to see how it is done.