The Live Gallery module is compatible with Url Master.

If using the 'lower case' option for Url Master Urls, this can cause errors with the 'Edit' pages of the module.  You will need to add some adjusting regex patterns to compensate for this.

Just add this value to the 'forceLowerCaseRegex' pattern in the Host->Friendly Url Settings 'Regex Settings' section:

ctl/managealbums

This will prevent changing the case in the Url that prevents the album editing functions from working.