Actually, just losing weight in and of itself can often cause a temporary rise. The fat stores that you are burning for energy have to be moved into your bloodstream before they can be broken down and used by the cells for energy. You didn't report what your triglycerides look like, but they should have dropped sharply.
Generally, dietary cholesterol has very little impact on serum cholesterol; most (around 80%) of the cholesterol in your bloodstream is produced by your own body. Cutting dietary cholesterol "turns on" the cholesterol producing factory in your body and the type produced is usually the bad LDL kind.
Some people do see a continued increase in their serum cholesterol despite low carb and those people may benefit from cutting out eggs and red meat. Not because of the fats that they contain, but because they may have a sensitivity to arachidonic acid which is found in red meat and egg yolks.
Cholesterol isn't as evil as we have all been led to believe. Your body actually needs it to a great degree which is why it will start producing more of its own when dietary cholesterol is cut.
Give it another 6 months or so and then reassess based on those tests.
In the mean time, you may want to read some of the very interesting posts in this forum on the lack of evidence for the cholesterol/heart disease connection. I'll also give you a link to a very interesting article on the whole subject here:
http://www.redflagsweekly.com/kendrick/2002_nov28.html