I upgraded to lilo-21.4.4-14 and didn't rerun /sbin/lilo (that should happen automatically, but that's another bug report). My machine wouldn't boot properly the next time I rebooted -- it printed "LI" and then beeped continuously. In addition, to that, however, it spewed the contents of my console to my laser printer over and over again. I can't find this documented anywhere, nor can I figure out how to make this behavior go away. This is Very Bad.
That's just random bios brokenness that causes it to print... lilo isn't doing anything itself which would do so.