We have formulated composites of lead (II) tetrakis (4-cumylphenoxy) phthalocyanine (PbTCPc) doped into nematic liquid crystal (LC), 4(')-pentyl-4-biphenylcarbonitrile (5-CB), that has received a 90 degree twisted alignment and investigated the nonlinear transmission properties using both pulsed (Nd:YLF 524 nm, 5 ns) and cw (532 nm) lasers. In the nanosecond regime, this compound is a reverse saturable absorber performing similarly to low-concentration solutions of PbTCPc. Under cw conditions, we observe optically self-activated polarization switching with low threshold input energy. Our results suggest the potential for an all-optical switch working from the nanosecond time scale to cw.