You can't view syslogs in real-time through LMS. You can run reports within RME to view them once they are stored in the RME database. This is done under RME > Reports > Report Generator.
LMS is not a general purpose trap receiver. The DFM application does receive and process SOME traps. Instead of traps, DFM primarily relies on polling to build its fault events for devices. These can be viewed in real time under DFM > Alerts and Activities > Alerts and Activities.
