I'd suspect that the connection timeout limits have been modified. Continually hammering an unresponsive host doesn't sound healthy for the network. You'll have to hope someone who can read both codes can better answer your question. Sorry to hear about the filesharing controls. You may want to take a look at the jum versions (Jens-Uwe Mager generously compiles the opensource of LW for OSX users). They include a patch that another opensourcer, trap_jaw, also generously submitted to allow proxy connections. Here are some links: hope they give you a few more options.
http://baghira.han.de/~jum/LimeWire.html
News: Sandvine's P2P Filter