Greenwood, a former British and Irish Lion who won the World Cup with England in 2003, was in awe of Laumape's ball carrying power in his test debut, but added a warning.
"With a platform going forward, wow, wow, wow," Greenwood told the Radio Sport Breakfast.
"He did it for the 'Canes, and he did it for the All Blacks. What a beast of a ball carrier. You thought through him it would be death by 1000 cuts for the Lions. He just nibbled away, or smashed away, at the gain line.
"The problem is he's young and hasn't got a huge amount of test experience. Who jumped to go hit (Owen) Farrell which put Jamie George through the door? Laumape.
"When you are a big hitter like that, and you have a couple of cunning foxes like (Johnny) Sexton and Farrell - they got him to bite a couple of times at the big hits, then put the ball where he wasn't.
"That opened the door for Jamie George, that opened the door for Conor Murray.
"So it's never quite black and white in sport. People have amazing strengths which offer you small and tiny Achilles heels somewhere. No one has the perfect game. What balance do the All Blacks go with - what a decision."
Lions coach Warren Gatland took the "gamble of his life" by not sending on big Ben Te'o to deal with Laumape's power running, Greenwood said.
"He stuck with his 10/12 which makes him a hero for the week, until next week," said Greenwood.
Greenwood believes the only selection decision facing Gatland is whether to start big loosehead prop Mako Vunipola or use him as a replacement. Vunipola is a terrific ball carrier but some observers say he is the scrum weak link.
Greenwood said post-match comments from Lions players made it clear they were hell bent on winning the series, that the Wellington victory only meant job half done.
Taking the squad to Queenstown for a couple of days was a wise move by Gatland, and similar to what he did in Australia four years ago.
"He took them all to Noosa then, when it was one-all," he said.
"You've done so much work already, worked so hard. In life, a happy rugby player is a good rugby player who is confident. They are confident after the win, confident in what they have done so far.
"They don't need another four hour smash up. They are ready to deliver the impossible. When they jumped on a plane five weeks ago it was the impossible. Suddenly, they have allowed their supporters to believe."