XProger, OpenLara's author, was trying to port it to Jaguar (as well as 32X and 3DO), but I think there haven't been any progress so far. Jaguar is probably just to difficult to deal with.
As far as I know, Jaguar is incredible flexible when it comes to graphics (it was the first console ever with programmable graphics pipeline), but the 3D performance is really poor (on top of the crappy memory layout that completely bottlenecks the fillrate).