For the corrupted install error:

First, update your Java using the offline JRE installer (point 1 below). Remove your current Java version before you install the new one
Fixes for LimeWire
Delete LW's preferences folder when LW's closed (that's points 2 & 3 above).
If that doesn't help, reinstall LW using the offline installer (not the recommended one).
http://www.limewire.com/english/content/download.shtml


Where's your saved folder? In LW tools > options > saving will show you the location. The default is C:\Documents and Settings\your name\Shared
If that's your location then it's fine, you should be able to uninstall LW & your files are still saved there on your computer. If you've moved the saved folder to another location, make sure it's not within any of the LW files that will be deleted when you uninstall