If you are developing windows live application using Window Live SDK June CTP, You won't be able to deploy your windows live application on windows azure if you didn't update your web.config by adding the following section: diagnostics.
PROBLEM: You won't be able to view any page in your web role project, and you will get a blank page.
CAUSE: Missing web.config section needs to be set on the Windows Live Project Template in VS 2010
To add this section do the following:
1) Create a new web role project in your solution.
2) Open web.config file.
3) Copy the section system.diagnostics and add it in your windows live application.
You will notice that you don't have this section on your windows live application.
4) Note: MAKE SURE THAT YOU DON'T HAVE DUPLICATE ENTRIES ON WEB.CONFIG for OAuthWrapCallback.ashx HTTP HANDLER.
5) Note: Try to update your host file by commenting the entry you have added, so when you deploy it you will be able to use the deployed url and not the host file entry that points to the localhost 127.0.0.1
Try to run the cloud service now and you will be able to view the default page of your web role.
This blog post is a result summary from my MSDN thread below:
To download Windows Live SDK - June CTP for VS 2010:
Hope this helps.