Python 3, 168 157 152 139 144144 136 bytes
EDIT: Really obvious things I should have seen easier have been changed, and some slightly less obvious.
Edit 2: stoopid (˚n˚). The program threw errors. I fixed it up. not actually 153 :(
Thanks to Leaky Nun for saving 5 bytes, and to jmilloy for saving 13 8 bytes.
s=input()
p=q=k=len(s)
m=0
while-~p:
while-~q:n=qm=(m,q-p;m=n ifp)[(s[p:q]in"lucky")*n>m else m;q*q-p>m];q-=1
p-=1;q=k
print(2**m-2*sum(i in "omen" forin"omen"for i in s))
The program runs through all possibly possible substrings in input (possibly possible, because it computes impossible substrings as well, 8 to 7, for example), checks if the substring is in "lucky", then sets the exponent of 2 to the length of the substring should it be greater than the current value. Possibly could be improved by using only one while loop. Could possibly use some improvement; I'm still getting the hang of this.