Guess it all boils down to what you mean by "taking action". Case study, drawn from my recent personal experience:
1. 4th Feb 2008 - I manifested for money to come out of the blue. From anywhere, and it should be a significant sum.
2. 5th Feb 2008 - My handphone rang.
I answered it. By pure "coincidence", an ex-boss of mine called to offer me a new job opportunity. (The organisation is one of those gigantic global MNC types). I hadn't told anyone that I was looking for a new job, but there you go.
3. The following week, he invited me for lunch to discuss further.
I showed up for the free lunch. We discussed further. He asked to know my current salary - I told him. He indicated clearly that of course, if I were to take his offer, I would get a good salary increase (exact figure not discussed).
4. Next month or so. - I remained undecided. Thought about it, off and on. More questions formed in my mind, however I took no action whatsoever. I did form the desire to know the answers, but did nothing to get them.
5. 2nd week of April - a completely bizarre coincidence.
I went jogging - just around the place where I live. While I was jogging, a car pulled up beside me. The guy inside turned out to be the HR guy from the company which was interested in hiring me.
It turns out that the guy lives in the same area as me! We chatted for quite a while. He answered all the questions that I had (see Point 4). Among other things, he said that the vacancy was still open; Ex-Boss is still very keen to hire me; and he gave a lot of info about how the organisation is now managed, in terms of reporting lines, work allocation, hiring plans etc.
6. Earlier this week - Having thought carefuly about all the info I'd gotten, I confirmed with Ex-Boss that I would like to rejoin. Last Tuesday we had lunch again (another free lunch for me). They will definitely make me an offer, and definitely the salary on offer will be an increase over and above my current package - the question is how much more. Their HR and Finance is working out the budget - the formal offer will come next week.
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All of the above are recorded in greater detail on my blog.
The Magickal Mind (You'll have to wade through lots of other diary entries about other events in my life though).
So the questions I have for Hkalchemy are as follows. My intention was to get more money out of the blue. For the purposes of your OP, do you consider the following to be "taking action"?
(a) I answered my handphone, when it rang.
(b) I showed up for a free lunch, when I was invited.
(c) I went jogging.
(d) A guy in a car stopped to talk to me, so I talked to him.
(e) I showed up for another free lunch, when I was invited again.
If you consider all of the above to be "taking action", then yes I agree with you. You need to take action to make LOA work .....
But I think such a definition of "action" is not what most people have in mind, when they say, "Oh you have to take action to make your goals come true."