I agree that Hezbollah laughs at Israel, but that is only because it has beaten Israel on two occasions and sent fear through the ranks of the IDF in 2006; but it is far from illegal. 1701 allows for the Lebanese government to have any and all weapons and forces it desires to protect its sovereignty, and since it has recognized the Hezbollah militia as a legitimate resistance group, Hezbollah is now part of the Lebanese defense forces. Just think, had Israel simply abided by the UN Security Council Resolutions and unconditionally withdrawn its occupation forces from Lebanon in the 1980's as demanded, Hezbollah would have never been forced to form in order to drive Israel from Lebanese soil.
Colombia recalls ambassador to Venezuela amid border crisis (Reuters)
from the article: Report: Israel planning to attack Hezbollah arms depots in Syria