Normally, when you select a block or external reference, you only get one grip, at the insertion point. (You'll also get grips for unlocked attributes, but these days I hope they're the exception rather than the rule.)
If for some reason, though, you want more grips, set GRIPBLOCK to 1. Then you'll see all available grips, just as if they were regular objects in the drawing. You can't do anything with these grips, besides the standard "move" action, and if you have a lot of blocks (or a few complicated ones) they can clutter your display pretty quickly.
But knowledge is power, right? And now you know one more way to control grip display in AutoCAD LT.