Alternate Eras on pp 103 states that LAM using AirMech movement follows the Turn Mode rules from TO:AR.
The AirMech Hover rules (pp 102) state you can move 1-4 hexes spending normal WiGE MP, by spending 5 MP to hover.
The combination of these two rules means that in hover you are spending at least 5 MP, which means you're in the 5-9 row of the Turn Mode table. Thus, despite "hovering" you can't actually turn on the spot, and can change at most two facings without suffering the need for a PSR.
Do Mechs benefit / suffer from the same Turn Mode modifiers for weight class - light, medium, heavy assault?
If that's the case, then at least my light LAMs have a turn mode of 0 for 5-9 MP (1 -1) which makes the behaviour a bit more sensible.
EDIT: Misread the table - the weight modifies the PSR, not how much you have to move.