It was brought to my attention that I missed something right in front of my eyes. AutoCAD LT 2007already has a button to do this, it's on the LAYER toolbar. But, for those of you with LT versions below 2000 this is a good alternative.
More DIESEL. I spent a couple days looking & trying to figure out how to set the current layer to an object I picked. Of course with lisp this is fairly simple, but I think I came up with a good alternative for Us LT users.
Also by changing the code a little you can use it to freeze, turn off, lock or unlock a layer.
I hope this is helpful,