I can confer the problem seems to be with iTunes & NOT LW. I am using an older version of LW (4.16.x) & same problem occurs.

Edit: I don't have a recent old version. Only one from late July last year ... iTunes 7.3.1 (click on link) . Then click the Request Download Ticket. On following page press Download.

I included the 7.3.2 update package but doubt it will work all the same. But as long as the 7.3.1 works ok for you & doesn't muck up your iTunes preferences due to it being an older version, then all is fine.