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Oh, the irony ... after a progress hearing for the status of her probation stemming from charges she stole jewelry from a Venice Beach jeweler, Lindsay Lohan was back in action Saturday at ... a jewelry store!

The actress has been in hiding as of late, but last week's hearing was good news for the Lilo, when Judge Stephanie Sautner congratulated Lindsay for keeping up with her community service at the LA County Morgue.

And there may be more good news on the horizon for Linds ... it seems she's up for the role of Elizabeth Taylor in a Lifetime movie Liz and Dick (referring to Richard Burton, of course).

Liz was famous for her jewelry collection ... perhaps Lindsay was doing some research at XIV Karats yesterday?

BUT, as we reported, Megan Fox is also in the running, so who will prevail?

Let's hope Lindsay's luck is a bit better with this than it was yesterday when she parked her Porsche Panamera in Beverly Hills and got TWO tickets!