SHORT VERSION
They don't work. They do correctly enable the game to access up to 4GB of memory, but game never touches the extra memory. I suspect their internal heap management algorithm just grabs all the memory they can at startup, up to 2GB, but no more. To make it actually use the extra memory space, a streamline-like hack that replaces the entire heap management system would be necessary.
LONG VERSION
Using http://technet.microsoft.com/en-us/sysinternals/dd535533 from System Internals, I captured a picture of memory for the scenarios of a http://www.quartertothree.com/game-talk/showthread.php?t=65955 and unmodded game, with and without the 4GB/LAA. I'm using the http://nvse.silverlock.org/ NVSE loader.
Unmodded 2GB:
http://imgur.com/1Kpwv
Unmodded 4GB:
http://imgur.com/pR9kh
Modded 2GB:
http://imgur.com/XO4W7
Modded 4GB:
http://imgur.com/Ut1NK
As you can see, mods do consume more memory, but when the 4GB flag is enabled the game doesn't even try to touch the extra 2GB of memory.