First of all - take your saved files out of LW's program files! That's not a safe place to save to. If you save files there, you'll lose them if you uninstall LW. Make a new folder in a safe location (eg within My Documents) & move the files to that new folder for now.

LW's default location for saving is a safe location. I guess the default location is the 'Limewire\Saved' that you're talking about??

Open LW & go tools > options > saving. Tick 'use default' > apply > ok. Now you'll see the path to the default save folder in the text field. You can move your files from wherever they're saved, into that default save folder & they should show up in LW's library.

If you still have problems with changing the location of your save folder, delete LW's preferences folder when LW's properly closed. See point 3 here & also point 2 if you've used older versions of LW in the past (there could be a folder in either location).
Fixes for LimeWire
This will change all of your settings within options, you'll have to go back through afterwards & reset things. If you're not sure of your settings, go through LW's tools > options & write them all down, so that you can reset things later.
Vista users: LimeWire Pref Folder in Vista