To answer your first question, no, Laserfiche cannot edit PDF files meaning you'll need to determine the best approach for minimizing file sizes in your specific circumstances.
The short version is that the "best" solution really depends on the nature of the source document and your import/processing settings.
If you generate color (TIFF-LZW) pages, they are always going to be much larger than the source PDF because they are raw bit data whereas a PDF is a complex collection of layered and optimized components.
If you convert those images that back to PDF with default compression the resulting PDF will be much larger than the original for a variety of reasons; in our environment we apply variable compression based on the average page image size and it makes a significant difference with no noticeable impact on quality.
On the other hand, importing the PDF in monochrome (TIFF Group IV), or importing them in color and removing the color in Quick Fields, will yield much smaller image files, and in many cases exporting those with the right compression will even give you a PDF smaller than the original.
Another option for color is to use the TIFF-JPEG format instead of TIFF-LZW for color images; unlike LZW, they are lossy, but they are also much smaller.
Again, it all depends on your circumstances.