I'm in the program ( non-licensure track).  It requires a LOT of
self-discipline to complete the work independently, and the material is fairly
rigorous, but I'd recommend it, particularly if you don't have opposition to
the religious overtones.
A few years ago, Liberty was rumored to be in trouble with the National
Board of Certified Counselors, whose examination is used in 33 states
for licensure purposes.  While I am not aware of the current status of
their relationship with NBCC, you should check directly with the state
in which you will be seeking licensure to ensure that Liberty's
external program will qualify you to sit for the licensure exam used in
your state.  You might also call NBCC itself (in Greensboro, NC) to
inquire about the current status of Liberty's external program with
them.
The following is a bit dated, but here's what I wrote about Liberty's
external program (then called the Liberty University School of Lifelong
Learning) in the last edition of my book "Name It & Frame It"
(available on the web at http://training.loyola.edu/cdld/nifi.html):
    Affiliated with the Thomas Road Baptist Church (of 
    which Jerry Falwell is pastor), Liberty offers 
    associate's, bachelor's and master's degrees in a 
    variety of secular and religious subjects including 
    business, church ministries, counseling, general 
    studies, interdisciplinary studies, and religion. 
    Depending on the degree, between six and twelve 
    semester hours are required in residence, but these 
    can be earned in week-long modular courses offered 
    during the Winter and Summer sessions. They are a 
    pioneer in using videotaped lessons, which often 
    help students who have difficulty absorbing 
    material from traditional correspondence courses. 
    The LUSLL program is one of the largest external 
    programs in the nation, and had a rocky start which 
    resulted in the entire university being placed on 
    probation by the Southern Association in January 
    1991 due to program deficiencies. However, the 
    probation was retroactively lifted in December 1991 
    after the university made improvements in the 
    program. Liberty has also maintained accredited 
    status in the Transnational Association of 
    Christian Colleges and Schools (TRACS), an 
    accreditor discussed in Chapters 3. (It's pure 
    speculation on my part, but their TRACS membership 
    could act as a hedge against any future loss of 
    their regional accreditation.) Liberty University 
    also had severe financial problems due to 
    investment and bond failures following a sharp drop 
    in contributions as a result of the PTL, Bakker, 
    and Swaggart scandals in the late 1980's, resulting 
    in an investigation by the United States Department 
    of Education and legal action by both banks and 
    individual investors and bond holders. These 
    problems extended to the Thomas Road Baptist 
    Church, which was placed in the hands of the 
    Resolution Trust Company (a federal agency charged 
    with salvaging the assets of failed savings and 
    loan associations). In late 1992, however, a civil 
    court approved a bondholders agreement which 
    resulted in the successful completion of a debt 
    restructuring plan for the university. As a 
    regionally accredited university, they have high 
    quality programs (including one of the best low-
    residential graduate programs available today), but 
    prospective students should inquire about their 
    current financial and accreditation status. 
    Accreditation: Southern Association and TRACS.
An addendum note: When my book "When the TRACS Stop Short: An Analysis
and Critique of the Transnational Association of Christian Colleges and
Schools" was released in 1993 (now out of print), Jerry Falwell himself
called me to request that I pull the book because it was critical of
TRACS, one of their accreditors.  The book ended up hanging TRACS'
reapproval by the U.S. Department of Education up for almost two years
(which I like to think of as the price of Jerry's call getting me out
of the shower), although the organization has straightened out its act
somewhat.
Bottom line: Liberty has not always been anchored in rock (no
theological puns intended); before enrolling, you should make
absolutely sure that it will meet your needs.