Well QUEUED = LW is too busy to handle those files. Give it plenty of time to settle.
If it still persists, then delete your LW preferences whilst LW is CLOSED. You'll find them here: /Users/your_username/Library/Preferences/LimeWire
Some other tests you can do to make sure LW is healthy:
1. After LW's been open 30 mins or more, do this test:
Bug Report instructions & sample image Is the result True/False? If True then that's good. If False, then something is at least partially blocking LW's access.
2. Port test: Do this simple test for us. Using your browser go here:
http://www3.limewire.com:6346/ The page should say 'Your test worked!'. What happens when you go there?
BTW it's quite normal for all files to be queued after LW starts. But one by one it will try to connect to each one after all the shared & incomplete files have loaded. If you have a lot of incomplete files then they will be queued for much longer. If you use the Resume/Find sources function then they'll take even much much longer to be queued. See the following link & follow all the off-shoot links to find hints & extra skills to help solve your problem:
To continue files downlding (click on link)