Sprinkle your #keyword# throughout the text but do not overdo it with repetitions. Try to do it so they make sense. Also do not forget to use lots of keyword synonyms to build your relevence.
Make sure you have a few #secondarykeyword# images on the page with your keywords and keyword synonyms in the alt text.
Having keywords in the text of your links like this: #keyword# helps. Put a bunch of links like this on your cloaked pages for Lycos.
There does not seem to be a limit to the number of pages you can submit to Lycos in a day without hurting your rankings. You are not penalized for using hidden text, but since your cloaked pages are cloaked, there is no real reason for doing so. Lycos does not spider comment tags.