"LaRCS" stands for "Live and Record Combined Stereo", which means that on the left you can hear a live performance, while on the right the studio version.
Regarding the current video, you can enjoy Olivia Newton-John's classic hit "A Little More Love" (1978): on the right side the official video clip, on the left a charming live presentation from 1982 (Weber State University, Utah, USA).
Note: both sides were tempo adjusted. Links:
http://www.youtube.com/watch?v=5JziEnxTySM
http://www.youtube.com/watch?v=4RFK8Ft-GNQ
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