This is confusing... but both:
$$ X(\lambda) = P^{+}x + \lambda C $$
$$ X(\lambda) = (1-\lambda)P^{+}x + \lambda C $$
Are rays that pass through P+x and C. First of all, the reason why this is so confusing is because, as you stated, these are homogeneous coordinates, not euclidean coordinates, so the intuition you use for adding euclidean vectors doesn't really hold up because after you add them, you need to divide by the last coordinate to bring them back to euclidean space, which is how the ray is defined (it's a line in euclidean space, but with homogenous coordinates).
Because this is so confusing, I just decided the easiest way to show this is correct is to just program it out and plot the results.
The first equation:
import numpy as np
import matplotlib.pyplot as plt
c = np.array([1,2,1]) # center
p = np.array([4,5,1]) # point
Try out the equation X(lambda) = p + lambda*c
ls = np.linspace(-500, 500, 1000)
Xs_lambda = np.array([p + l*c for l in ls])
plt.plot(c[0]/c[2], c[1]/c[2], 'gs')
plt.plot(p[0]/p[2], p[1]/p[2], 'rs')
plt.plot(Xs_lambda[:,0]/Xs_lambda[:,2], Xs_lambda[:,1]/Xs_lambda[:,2], '-r')
Results in:

# Now try out the equation `X(lambda) = lambda*p + (1-lambda)*c`
ls = np.linspace(-1, 2, 1000)
Xs_lambda = np.array([l*p + (1-l)*c for l in ls])
plt.plot(c[0]/c[2], c[1]/c[2], 'gs')
plt.plot(p[0]/p[2], p[1]/p[2], 'rs')
plt.plot(Xs_lambda[:,0]/Xs_lambda[:,2], Xs_lambda[:,1]/Xs_lambda[:,2], '-r')
Results in:

These are both lines passing through P+x and C and parameterized by l.
Now, returning to the math in the 2D case, let:
$$ X = [x_1, x_2, 1] $$
$$ Y = [y_2, y_2, 1] $$
Now adding a linear combination of the two:
$$ k_1*X + k_2*Y $$
$$ [k_1*x1 + k_2*y_1, k_1*x_2 + k_2*y_2, k_1+k_2] $$
The resulting first coordinate in euclidean coordinates is now:
$$ (k_1*x_1 + k_2*y_1)/(k_1+k_2) $$
Simplifying further...
$$ (k_1/(k_1+k_2))*x_1 + (k_2/(k_1+k_2))*y_1 $$
So this means only the relative ratios between k_1 and k_2 matter and the resulting value is a linear combination of X and Y with coefficients that sum to 1, meaning it will form a line between X and Y as long as the relative ratio between k1 and k2 are varied which is true for both equations at the top.