Yes. Definitely OK.
Would strongly recommend running something like Registry Mechanic after deleting...
I'd even go into Registry after Reg Mech and search for and remove anything from LW.
Also, perhaps you should look at the info re: uninstalling LW which you will find...
here >
If LimeWire Will Not Load
and
here >
Fixes For Limewire When LW Isn't Operating As It Should 