Yes that is the way to go.
As long as you leave the VI set as "non re-entrant" (the default) this should work out fine. THe beuty of this technique is that while the "refresh" is happening, any other threads attempting to acess the data will wait until the update completes.
Please be for-warned;
If the refresh takes a long time to complete, the other threads will be blocked when they attempt to acess the LV2.
Regarding thanks;
Many of us work for peanut (i.e. stars).
If you find JB's and Mads example helpful, give em some stars!
Post a copy of your LV2 (along with the dll) and I (if I get a chance) will look it over to see if we failed to mention anything.
Ben