Assuming you are using some flavor of windows... Each time you install a version of limewire the actual unique executables are put in a sub-directory named for that version.

C:\program Files\Limewire\2.4.2 Pro
and
C:\program Files\Limewire\2.4.4 Pro

the other file directories are shared between the different versions

C:\program Files\Limewire\Shared
C:\program Files\Limewire\Incomplete

The nice thing is you can keep both or multiple versions on your system and run the one you want. You could uninstall but be sure any files you have (such as MP3s) are moved to a safe place as the uninstall may remove the entire Limewire directory... potentially causing your existing downloaded files to disappear.