Well if that was all it is.. then yes, it would work on building muscle while dieting.. but it won't help the dieting per say..
This would be very similar to just using dbol with a high dose of an anti-e as for just building bulk... If enough l-dex is used, you see little to no bloat, while gaining some LBM.
I know that this goes against what everyone believes to be true.. "A DBOL ONLY CYCLE...WHY WASTE YOUR TIME.... YOU'LL LOSE IT ALL...IT'S ALL WATER WEIGHT"
Well use your heads and think about it.. If you eliminate the excess water weight brought about by the dbol, by using enough l-dex, then what do you have left.. Lean Body Mass..