Hi, I live on Lord Howe & sail on the lagoon. Probably the best winds are the winter SW(lagoon faces west) I sail flat water, B&J, but I suppose you could wave sail the reef on the high tide.
Other direction that is good is E/SE, but as was said you need someone to keep an eye on you if you were to sail the reefs.
Winter is great sailing, regular 3-4 day stints of 20-30K SW, crystal clear water, huge mountains as the backdrop & noone else out! All you got to watch out for are the turtles and the odd bombie, depending on the tides.
You could sail the other side of the island in an E/NE breeze but I haven't done so yet. You could launch from Neds Beach, only on the rising tide. Thing is, if something goes wrong out there you are well f---ked. Lots of Noahs Arks and nothing between you and New Zealand....