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In the army, a Lt General thus is a rank just below that of a General. Yes there is a confusion, no doubt, but the root comes from one being a second to the rank of a General and the other (Major General), being senior to a Brig General.
Lieutenant colonel is a rank of commissioned officer in the armies, most marine forces and some air forces of the world, above a major and below a colonel. The rank of lieutenant colonel is often shortened to simply colonel in conversation and in unofficial correspondence. Sometimes, the term, 'half-colonel' is used in casual conversation in the British Army. A lieutenant colonel is typically in charge of a battalion in the army.