The OP's problem has nothing to do with HDCP. Component connections never have, and never will support it. There is not a single TV in the wild that supports it over component. Component outputs are only supposed to be blanked upon reception of a 1080p signal with an HDMI cord connected (if the TV isn't 1080p capable, the receiver won't even go into 1080p mode). Since LMN (or any channel) is NOT 1080p, OP simply had a glitch in the receiver.
However, (harshness take note) over the next three years, the component output will disappear and everything will have HDMI due to the analog sunset in 2013. Current devices that have component will be locked down to SD quality by the content provider. You won't be able to get HD (1080i, 720p, 1080p, 1440p) out of anything but an HDCP compliant HDMI connection (or whatever its HDCP compliant successor is). Yes, this only applies to 'protected content', but you can bet your ass there won't be anything coming to any TV/receiver without that flag set.
So yes, HDCP WILL be a problem for component users going forward. It's just not the OP's problem right now.