Morally, this is Neutral-- you're not taking the eyes of innocent people, but you're not really showing much respect for life, either. You're exacting retribution-- which isn't necessarily justice.
Ethically, I'm going to have to disagree with the vast majority of posters: Neutral.
While the origins of the phrase "eye for an eye" were from an ancient legal code, there is nothing specifically Lawful about demanding such a punishment. Retribution, even if equal to the original offense, is not always justice.
Also, I disagree with the concept that justice is a Lawful concept. I have a hard time picturing a Lawful Evil character caring much for justice, especially considering what will happen when he gets what he deserves. I see justice as a Good concept-- people get what they deserve, and making sure that people get what they deserve promotes and kindness. Think about the Chaotic Good vigilante-- is he not seeking justice for perceived wrongs against others?
For the purposes of discussion, I consider myself Lawful Neutral, and I do not concern myself with notions of justice. I want that which will promote stability and order in society, regardless of guilt or innocence.
The cycles of revenge created by this philosophy can strain the orderliness of a society. It can create Chaos. If it's imposed by the courts, it's probably Lawful. Also, if you reflect on the fact that it involves each person suffering only what they have inflicted upon others-- or inflicting suffering upon those who have wronged them, to balance the scales-- it seems like this is a very Neutral philosophy.