I've been working on a tool that can be used to convert .lab animation files to a format that can be used by all modern 3d animation software like Blender.
At the moment, the conversion from .lab to .dae (the format I chose, collada) is functional, and I am working on the reverse conversion so your changes to the animation keyframes and joints can be reflected in the game.
I've hit a small snag due to my limited understanding of 3d animation and dummy objects which would take some time for me to research and resolve, so if you are versed with these things and would like to contribute, please leave a message here or send me a DM.
The tool can be downloaded here: https://github.com/Perseus/lab-parser/releases/tag/0.1.0.
The source code (if you're interested) and usage instructions can be found here: https://github.com/Perseus/lab-parser
Converted file example: