1. That's not a bug, it's a feature and the LimeWire developers did it on purpose.

2. Then set your connection speed to modem, it's the only setting that allows you to set your upload speed as low as this. - Of course this will not allow you to have more than three connections but since you don't give much back to the network ...

3. Yeah, in my opinion LimeWire should remove the monitor altogether. (If the popup annoys you, don't enable the monitor everytime!)

4. There is one, it's at 75 - reducing the limit won't help much at all since all the leaf connections you have put to gether take up something like 4KB/s. The 6 ultrapeer connections need at least twice as much resources.