Not the best location for Limewire. Uninstall it

Press start>programs>Limewire>uninstall or use the uninstall file is in the Limewire folder

The reinstall Limewire into the programs folder

Check after opening Limewire where your saving folder is

Within Limewire choose Tools>options>Saving You wil then see path to savefolder.
(Default would be c:documents and settings/*Your Username*/shared)

Also when reinstalling don't let Limewire scan for mediafiles. Add folders to share yourself instead