Well even with out anyone's help I found the solution.
I am using a computer at school, and it has some kind of system guard tool running on it that makes it so that the common user is limited on what he/she can do. Among these safe guards is one which "locks" various files and folders throughout the system. This "lock" was makig it so that files could only be viewed; they could not be changed or modified in any way. I think that this was causing limewire to hang the whole system... So I installed it to a student directory in which files are not effected by the guard program, and now limewire is working perfectly... It's running right now!