Can't imagine any reason that it would. Technically, it's the equivalent of about 3/4 cup or so of DME, but it'll be fine for a starter. Just not quite as much goodness for the yeasties to feast upon.
No it won't matter, people just use DME more cause the LME is potentially so much more messier to keep around. LME also has to be used pretty quckly compaired to DME.