In the very unlikely event that it needs warranty service, you'll have to send it to LP instead of sending it to your authorized suunto dealer. That's all there is. I'm assuming the warranty is standard 12 months so after a year it's all completely moot.
That said, looking at LP product page I see it has no mention of any warranty anywhere. Bad LesiurePro, no cookie. I wouldn't buy it without first getting LP to spell out warranty terms.
This thread is relevant to your concerns
Buying From Leisure Pro