the Lagrange points are not related to Lagrangian mechanics per se. They really represent dynamical equilibria between centrifugal and gravitational potentials when a third mass orbits in the gravitational potential of two larger bodies, which is why its called the restricted three body problem.
by the way, L1, L2, L3 are unstable equilibria. L4 and L5 are the interesting places to drift. notice they are the bottom of the potential hill in the figure here:
http://en.wikipedia.org/wiki/Lagrangian_point#Lagrangian_point_missions
this site will explain why some observatories like orbits in the vicinity of the *unstable* Lagrange points:
http://www.physics.montana.edu/faculty/cornish/lagrange.html
now for a real kick, google "horseshoe orbits", for example:
http://en.wikipedia.org/wiki/Horseshoe_orbit
Les