Unfortuntaely, no. While damage would be prevented by protection and Lava Burst stops that, protection also prohibits targeting by a source with the protected quality. So Lava Burst cannot target a protected permanent or player, if that protection includes a quality of Lava Burst. If the target gains relevant protection in response, Lava Burst will fizzle.
Former Rules Advisor
"Everything's better with pirates." - Lodge
(The Gamers: Dorkness Rising)
"Any sufficiently analyzed magic is indistinguishable from science."
(Girl Genius - Fairy Tale Theater Break - Cinderella, end of volume 8)