Neither of those are very clear Ls to me. They are also both American. I wouldn't say l and O sound the same at all - for one thing with the l sound your tongue ends up touching the roof of your mouth behind your teeth, but in the o it doesn't, and that makes a big difference. The letter name for L is pronounced el, it starts with an e sound.
I don't see how you can say a word containing l with an o sound - follow - how could you say that with three consecutive o sounds? Try listening to this: http://www.thefreedictionary.com/follow. Can you hear the l properly when it is used in context? The only difference with the letter name L is that the name starts with an e sound - el.