UPDATE Nov 17th: It took 5 days from the time I initiated my transfer from Citi to LifeMiles for the points to appear in my account. I initiated the transfer on a Sunday. On Tuesday I got an email from Citi that they were transferring the points. And on Friday I got an email from LifeMiles that the points had been added.
That's an update to my more
complete analysis of the new Avianca / ThankYou transfer option.