The revolution worked in that it ousted the corrupt government that was in power. Muamar Gaddafi was the ruler of Libya, and the revolution targeted him and his government specifically. So the revolution was successful in that Gaddafi is no longer in power and the people can put their own leaders into power.
Yes, the Libyan Revolution worked if you define the revolution as over throwing Gaddafi. However, Libyan is now going through another revolution with it's country. Just like Egypt, Libya is going through a period where democracy is being experimented with. It's going to take longer then just a few years before a stable government will rise. European countries like Italy will need a working government in Libya to access their oil. It's going to get worse in Libya before it gets better.
The goal of the Libyan "revolution" was to oust Muammar Gadafi. He is no longer in power. While there may be continued unrest and the possibility of a power vacuum, such instability has a greater potential to lead to long-term positive results than maintaining the former status quo under Gadafi.
Libya is still a country in major crisis. There is still chaos and blood shed in the street, and we have no idea if a stable government will ever rise out and stick around for a meaningful length of time. Many of the rebels fled the country during the fighting and are now causing trouble in Mali, which is why a war has started there now too.