To "correctly" answer the OP's question. Being provisionally accredited means that the school has met the requirements for ABA accreditation, and will be up for full ABA approval in it's third year after provisional approval. The University of La Verne was provisionally accredited in 2006, which means that it's up for full accreditation this year. Taken straight from the ABA....
Once a school has obtained provisional approval, it remains in provisional status for at least three years. After a school is granted full approval, it undergoes a full site evaluation in the third year after full approval, and then a full sabbatical site evaluation every seven years. Once a school is granted full ABA-approval, it remains on the list of approved law schools until it is removed by a desicion of the Council or it closes.
I would contact La Verne and ask them how this is going, as three years have passed since their provisional accreditation as of last month. Beginning next year, if they are not full accredited...somethings wrong.
What this means for you....again taken straight from the ABA:
What is the status of students who attend or graduate from a law school that is not ABA approved or is provisionally ABA approved?
Individuals who graduate from provisionally approved school are considered by the ABA to be students attending an ABA-approved law school. It does not matter that the school was not approved when the student first enrolled in the school or that the school loses its approval subsequent to an individual's graduation. Most states follow this policy. However, students should always check individual state requirements concerning their ability to take the bar exam.
Everything I've heard about La Verne has been positive up to this point. Their current posted number of the entering 2009 class are better than both Whittier, Western state, and actually semi competitive with Southwestern.
LSAT 25th-75th: 150-156
GPA 25th-75th: 2.8-3.3
Southwestern: 2.8-3.4 / 154-157
Western State: 2.8-3.4 / 148-153
Whittier: 2.66-3.38 / 151-155
Judging by their generous scholarship disbursements, it appears that they are making a serious run at improving their numbers and moving up in the rankings. If you're looking to transfer from here, I would surmise that your chances of transferring into a T2 or T3 school from La Verne are at least on par with the other regional options. If it makes sense for you to go here over the other schools you were accepted, and money isn't a factor....go for it. HOWEVER...I would grill the appropriate people at La Verne as to what the status is of their pending full ABA approval.
*Edit* I spoke with the admissions office regarding this specific issue. The ABA visited the school in February as per their rules and was told the meeting went extremely well. They are anticipating/hoping to be FULLY ABA accredited by the end of the summer.