Parody works a lot better when it isn’t something that has been parodied a lot already.
Lookwell is pretty much just the Pink Panther all over again, without the slapstick. You know, the foolish, ineffective “detective” who thinks he’s the only one smart enough to solve a case, and who talks to himself in order to think out a case, etc…
The angle that he was just an actor on a stock detective show is a good twist, (and the posturing of the character in his TV show is really great), but it’s not enough to last for a whole series, unless perhaps if they could parody specific types of plots, etc.