MyHome Launcher Lite is the free version of MyHome Launcher.
MyHome Launcher wants to be lightweight, yet support themes. However, the APK itself is 2.5MB, hardly lightweight when Zeam clocks in at 372KB.
Inspection of the home shows that it has no theming other than the "dock", though it does come with multiple "themes" that emulate Android through the ages, from Cupcake up to Honeycomb. However, there is no change inside the app drawer at all.
At 2.5MB, I don't see why you'd use this over GoLauncher Ex or ADWLauncher at all. It's not light, and it's not full theme support. It is neither fish nor fowl, so to speak.
Rating: skip it, unless you feel like trying every Home under the sun.