Have a look at some of the advice in these threads...
when I start LW my cpu rises to 100% and doenst run it HELP!
100% Cpu !!!!!!!!!!!!!!
Limewire's raising my cpu usage to 100%

If you are running Java 1.6.1 try uninstalling your it from the add/remove programs and then re-install the JRE 5.11 offline version....
Archive: Download Java 2 Platform Standard Edition (J2SE) 5.0 Update 11

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