AOL offers a security suite that includes a utility called Pestpatrol. PP will damage LW. If you have this, either put LW on the exceptions list or uninstall it & get a decent spyware remover instead such as these 1.  
ad-ware (FREE), & also 2. 
Spybot - Search & Destroy (FREE) 
Suggestions: 
1. Uninstall all your Java versions using add/remove control panel & reinstall using the "Offline" Java installer here  
Java 1.5 (take the JRE) 
2. Delete your LW Preferences folder; instructions here: 
Point #2 & 3 in Fixes for Limewire (sample image included.) You'll need to check both locations for your LW preferences folder. 
3. Make sure your firewall is properly configured & modem/router's UPnP enabled; see  
Connection problems? Check here first! (click on link) 
4. Reinstall LW using the "Offline" version from here 
http://www.limewire.com/english/content/download.shtml