Has anyone looked at the online LLM in Taxation or Business Transactions from University of Alabama? It looks interesting because it would allow the student to continue working and not have to relocate. However, I am skeptical of how the "online" program would be received by employers, whether law firms or in-house counsels. Also, would a strong GPA, 3.7 or better in the LLM program make up for an average GPA, 3.00, from law school?

Use this program to earn continuing legal education credits that, hopefully, are reimbursed by your employer.
I doubt that a high LLM GPA from a correspondence couse will affect how employers view your law school GPA or class rank.