  We present the highest angular resolution infrared monitoring of LkCa 15, a
young solar analog hosting a transition disk. This system has been the subject
of a number of direct imaging studies from the millimeter through the optical,
which have revealed multiple protoplanetary disk rings as well as three
orbiting protoplanet candidates detected in infrared continuum (one of which
was simultaneously seen at H$\alpha$). We use high-angular-resolution infrared
imaging from 2014-2020 to systematically monitor these infrared signals and
determine their physical origin. We find that three self-luminous protoplanets
cannot explain the positional evolution of the infrared sources, since the
longer time baseline images lack the coherent orbital motion that would be
expected for companions. However, the data still strongly prefer a
time-variable morphology that cannot be reproduced by static scattered-light
disk models. The multi-epoch observations suggest the presence of complex and
dynamic substructures moving through the forward-scattering side of the disk at
$\sim20$ AU, or quickly-varying shadowing by closer-in material. We explore
whether the previous H$\alpha$ detection of one candidate would be inconsistent
with this scenario, and in the process develop an analytical signal-to-noise
penalty for H$\alpha$ excesses detected near forward-scattered light. Under
these new noise considerations, the H$\alpha$ detection is not strongly
inconsistent with forward scattering, making the dynamic LkCa 15 disk a natural
explanation for both the infrared and H$\alpha$ data.
